Delek Logistics Partners (NYSE:DKL) Reaches New 1-Year High – What’s Next?

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.00 and last traded at $59.2150, with a volume of 20897 shares. The stock had previously closed at $57.70.

Wall Street Analyst Weigh In

DKL has been the subject of a number of recent analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Zacks Research upgraded Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Mizuho increased their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Finally, UBS Group initiated coverage on Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price target for the company. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.40.

Delek Logistics Partners Price Performance

The stock’s 50 day simple moving average is $52.89 and its 200-day simple moving average is $51.94. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 0.64 and a beta of 0.47. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.92 and a current ratio of 0.96.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data 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). 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%. Equities research analysts anticipate that Delek Logistics Partners, L.P. will post 4.12 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be paid a $1.135 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, August 3rd. This represents a $4.54 dividend on an annualized basis and a yield of 7.7%. Delek Logistics Partners’s dividend payout ratio (DPR) is 143.04%.

Institutional Trading of Delek Logistics Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DKL. Focus Financial Network Inc. increased its holdings in shares of Delek Logistics Partners by 2.2% in the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock valued at $707,000 after purchasing an additional 300 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Delek Logistics Partners in the second quarter worth about $206,000. Infrastructure Capital Advisors LLC lifted its holdings in shares of Delek Logistics Partners by 2.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after purchasing an additional 3,596 shares during the period. Gateway Wealth Partners LLC purchased a new stake in Delek Logistics Partners in the first quarter valued at approximately $222,000. Finally, State of Wyoming purchased a new stake in Delek Logistics Partners in the first quarter valued at approximately $67,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

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.