Delek Logistics Partners (NYSE:DKL) Reaches New 12-Month High – Time to Buy?

Delek Logistics Partners, L.P. (NYSE:DKL) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.15 and last traded at $56.93, with a volume of 21023 shares traded. The stock had previously closed at $55.24.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group assumed coverage on Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price objective for the company. Truist Financial assumed coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price target for the company. Zacks Research upgraded shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Finally, Raymond James Financial reissued an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.40.

Delek Logistics Partners Stock Up 3.3%

The firm has a 50 day simple moving average of $52.03 and a two-hundred day simple moving average of $51.39. The company has a market capitalization of $3.04 billion, a PE ratio of 18.07, a P/E/G ratio of 0.64 and a beta of 0.47. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77.

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

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $1.13 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 annualized dividend and a yield of 7.9%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio is presently 143.04%.

Institutional Trading of Delek Logistics Partners

Several hedge funds have recently made changes to their positions in DKL. BNP Paribas Financial Markets purchased a new stake in shares of Delek Logistics Partners in the second quarter valued at about $50,000. Jones Financial Companies Lllp raised its holdings in Delek Logistics Partners by 303.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 910 shares in the last quarter. State of Wyoming acquired a new stake in Delek Logistics Partners in the first quarter valued at about $67,000. Osaic Holdings Inc. lifted its position in Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after purchasing an additional 1,910 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after purchasing an additional 3,868 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.