Delek Logistics Partners (NYSE:DKL) Shares Pass Below 200 Day Moving Average – Here’s Why

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $50.20 and traded as low as $49.02. Delek Logistics Partners shares last traded at $49.8040, with a volume of 141,823 shares changing hands.

Wall Street Analysts Forecast Growth

DKL has been the topic of several research reports. Mizuho upped their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Truist Financial started coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 price target for the company. Raymond James Financial reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Citigroup reissued a “neutral” rating and issued a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Finally, Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and a consensus price target of $55.25.

Delek Logistics Partners Price Performance

The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The company’s 50 day moving average is $50.93 and its 200-day moving average is $50.20. The stock has a market cap of $2.65 billion, a PE ratio of 15.76, a P/E/G ratio of 0.59 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). The company had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%. As a group, sell-side analysts predict that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 9.1%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Monday, May 4th. Delek Logistics Partners’s dividend payout ratio is presently 143.04%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. grew its position in Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after buying an additional 165,741 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Delek Logistics Partners by 4.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,584,902 shares of the oil and gas producer’s stock worth $72,176,000 after buying an additional 61,840 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Delek Logistics Partners by 1.1% in the 4th quarter. JPMorgan Chase & Co. now owns 431,845 shares of the oil and gas producer’s stock worth $19,269,000 after acquiring an additional 4,879 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Delek Logistics Partners by 11.2% in the 3rd quarter. Raymond James Financial Inc. now owns 228,090 shares of the oil and gas producer’s stock worth $10,387,000 after acquiring an additional 23,054 shares during the period. Finally, Infrastructure Capital Advisors LLC boosted its holdings in shares of Delek Logistics Partners by 2.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock valued at $7,786,000 after acquiring an additional 3,596 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.