Delek Logistics Partners (NYSE:DKL) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Delek Logistics Partners (NYSE:DKL) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks reports.

Other research analysts have also issued reports about the company. UBS Group raised their price target on Delek Logistics Partners from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday. Weiss Ratings downgraded Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.60.

Delek Logistics Partners Stock Up 1.3%

Shares of NYSE:DKL opened at $54.87 on Tuesday. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 19.12 and a beta of 0.44. The company has a 50 day moving average of $56.15 and a 200-day moving average of $53.16. Delek Logistics Partners has a one year low of $42.35 and a one year high of $61.50.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The business had revenue of $384.76 million during the quarter, compared to the consensus estimate of $293.64 million. On average, sell-side analysts forecast that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.135 per share. This represents a $4.54 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend was Monday, August 3rd. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s dividend payout ratio (DPR) is 158.19%.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, President Avigal Soreq acquired 2,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, for a total transaction of $125,000.00. Following the acquisition, the president directly owned 84,782 shares of the company’s stock, valued at approximately $4,239,100. This trade represents a 3.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Hobbs purchased 4,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $50.00 per share, for a total transaction of $200,000.00. Following the purchase, the executive vice president owned 24,125 shares of the company’s stock, valued at approximately $1,206,250. This represents a 19.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 15,000 shares of company stock valued at $750,000 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in Delek Logistics Partners during the 1st quarter worth about $67,000. Motiv8 Investments LLC acquired a new stake in Delek Logistics Partners during the 4th quarter valued at $192,000. Avior Wealth Management LLC bought a new position in Delek Logistics Partners during the 2nd quarter worth $206,000. HB Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners in the first quarter valued at approximately $216,000. Finally, Gateway Wealth Partners LLC bought a new stake in shares of Delek Logistics Partners in the first quarter valued at approximately $222,000. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.