Delek Logistics Partners (NYSE:DKL) Sets New 52-Week High – Time to Buy?

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 $49.02 and last traded at $48.43, with a volume of 21809 shares trading hands. The stock had previously closed at $47.76.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Delek Logistics Partners in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.50.

Delek Logistics Partners Price Performance

The company has a market capitalization of $2.58 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.42 and a beta of 0.47. The company has a debt-to-equity ratio of 130.97, a current ratio of 1.03 and a quick ratio of 0.98. The firm’s 50-day moving average is $45.78 and its 200-day moving average is $44.87.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.26). The business had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $251.65 million. Delek Logistics Partners had a return on equity of 360.64% and a net margin of 17.00%. Analysts predict that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Friday, November 7th were issued a dividend of $1.12 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.48 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend was Friday, November 7th. Delek Logistics Partners’s payout ratio is presently 144.98%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Delek Logistics Partners by 24.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after buying an additional 298,867 shares in the last quarter. Alps Advisors Inc. increased its holdings in Delek Logistics Partners by 2.5% during the 3rd quarter. Alps Advisors Inc. now owns 4,323,382 shares of the oil and gas producer’s stock worth $196,887,000 after purchasing an additional 104,115 shares during the period. JPMorgan Chase & Co. grew its position in shares of Delek Logistics Partners by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock worth $19,444,000 after buying an additional 99,500 shares in the last quarter. HRT Financial LP raised its holdings in shares of Delek Logistics Partners by 278.3% in the second quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock valued at $3,208,000 after acquiring an additional 54,959 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Delek Logistics Partners by 30.8% during the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after acquiring an additional 48,284 shares in the last quarter. Institutional investors 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.