BidaskClub cut shares of Delek Logistics Partners, L.P. (NYSE:DKL) from a buy rating to a hold rating in a research report released on Friday.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Delek Logistics Partners, L.P. from a buy rating to a hold rating in a report on Monday, July 24th. Barclays PLC reiterated an equal weight rating and set a $33.00 price target on shares of Delek Logistics Partners, L.P. in a report on Wednesday, July 5th. Finally, Scotiabank set a $33.00 price target on Delek Logistics Partners, L.P. and gave the stock a hold rating in a report on Saturday, July 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $33.67.

Shares of Delek Logistics Partners, L.P. (DKL) opened at 34.95 on Friday. The company has a market capitalization of $850.26 million, a P/E ratio of 17.78 and a beta of 1.28. The company has a 50 day moving average price of $32.88 and a 200 day moving average price of $32.08. Delek Logistics Partners, L.P. has a 12-month low of $21.30 and a 12-month high of $36.05.

Delek Logistics Partners, L.P. (NYSE:DKL) last released its quarterly earnings results on Monday, May 8th. The oil and gas producer reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $129.50 million for the quarter, compared to analysts’ expectations of $128.42 million. Delek Logistics Partners, L.P. had a negative return on equity of 446.17% and a net margin of 13.08%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities analysts anticipate that Delek Logistics Partners, L.P. will post $2.42 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, August 4th will be paid a dividend of $0.705 per share. This is a positive change from Delek Logistics Partners, L.P.’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $2.82 annualized dividend and a yield of 8.07%. Delek Logistics Partners, L.P.’s dividend payout ratio is presently 140.10%.

In other news, major shareholder Delek Us Holdings, Inc. bought 11,648 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $32.51 per share, with a total value of $378,676.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have purchased 62,090 shares of company stock worth $1,928,304.

A number of institutional investors have recently bought and sold shares of DKL. Sei Investments Co. purchased a new position in Delek Logistics Partners, L.P. during the second quarter valued at about $223,000. Parkside Financial Bank & Trust raised its position in Delek Logistics Partners, L.P. by 0.5% in the second quarter. Parkside Financial Bank & Trust now owns 9,430 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 45 shares during the last quarter. Taylor Wealth Management Partners raised its position in Delek Logistics Partners, L.P. by 14.5% in the second quarter. Taylor Wealth Management Partners now owns 32,340 shares of the oil and gas producer’s stock valued at $1,059,000 after buying an additional 4,090 shares during the last quarter. Bank of Montreal Can purchased a new position in Delek Logistics Partners, L.P. during the second quarter valued at about $131,000. Finally, Franklin Square Holdings L.P. purchased a new position in Delek Logistics Partners, L.P. during the first quarter valued at about $769,000. 27.28% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners, L.P. Company Profile

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.

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