Delek Logistics Partners (NYSE:DKL) Shares Break Below Two Hundred Day Moving Average – Should You Sell?

Delek Logistics Partners, L.P. (NYSE:DKL) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $53.37 and traded as low as $52.00. Delek Logistics Partners shares last traded at $52.2690, with a volume of 133,159 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DKL. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. UBS Group raised their price objective on Delek Logistics Partners from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Finally, Zacks Research cut Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.60.

Delek Logistics Partners Stock Down 2.8%

The business’s 50 day moving average is $55.75 and its 200-day moving average is $53.37. The firm has a market capitalization of $2.99 billion, a P/E ratio of 18.21 and a beta of 0.43.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $384.76 million for the quarter, compared to analyst estimates of $293.64 million. Research analysts forecast that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, November 3rd will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.1350. Delek Logistics Partners’s payout ratio is currently 158.89%.

Insider Transactions at Delek Logistics Partners

In other news, Chairman Ezra Yemin purchased 6,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $50.00 per share, for a total transaction of $300,000.00. Following the purchase, the chairman owned 168,217 shares of the company’s stock, valued at approximately $8,410,850. The trade was a 3.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Avigal Soreq acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $50.00 per share, for a total transaction of $125,000.00. Following the acquisition, the president owned 84,782 shares in the company, valued at $4,239,100. This represents a 3.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 15,000 shares of company stock valued at $750,000. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new position in Delek Logistics Partners in the first quarter valued at about $67,000. Avior Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the second quarter valued at about $206,000. HB Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the first quarter valued at about $216,000. Gateway Wealth Partners LLC bought a new stake in shares of Delek Logistics Partners during the first quarter worth about $222,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Delek Logistics Partners during the third quarter worth about $225,000. 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 that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics’ operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.