Delek Logistics Partners (NYSE:DKL) Shares Gap Down – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $50.28, but opened at $47.72. Delek Logistics Partners shares last traded at $49.71, with a volume of 15,137 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DKL shares. Citigroup reaffirmed a “neutral” rating and issued a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a report on Friday, March 6th. Raymond James Financial restated an “outperform” rating and issued a $55.00 price target on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Truist Financial started coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective for the company. Finally, Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.25.

Delek Logistics Partners Trading Down 1.5%

The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07. The business’s 50 day simple moving average is $52.58 and its 200 day simple moving average is $47.97. The stock has a market cap of $2.65 billion, a P/E ratio of 15.05, a PEG ratio of 0.55 and a beta of 0.54.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.38). The company had revenue of $255.77 million during the quarter, compared to the consensus estimate of $283.64 million. Delek Logistics Partners had a net margin of 17.41% and a return on equity of 461.30%. On average, analysts expect that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a dividend of $1.125 per share. The ex-dividend date of this dividend was Thursday, February 5th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.50 dividend on an annualized basis and a dividend yield of 9.1%. Delek Logistics Partners’s dividend payout ratio (DPR) is 136.78%.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors have recently added to or reduced their stakes in DKL. Van ECK Associates Corp boosted its holdings in shares of Delek Logistics Partners by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock worth $248,000 after acquiring an additional 258 shares in the last quarter. American Financial Group Inc. grew its position in shares of Delek Logistics Partners by 3.0% during the 4th quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock worth $759,000 after buying an additional 500 shares during the period. Sharpepoint LLC raised its stake in shares of Delek Logistics Partners by 1.4% during the third quarter. Sharpepoint LLC now owns 37,868 shares of the oil and gas producer’s stock worth $1,725,000 after buying an additional 506 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Delek Logistics Partners by 3.2% in the third quarter. Exchange Traded Concepts LLC now owns 18,819 shares of the oil and gas producer’s stock valued at $857,000 after buying an additional 588 shares during the period. Finally, Focus Financial Network Inc. boosted its stake in Delek Logistics Partners by 4.7% in the third quarter. Focus Financial Network Inc. now owns 13,757 shares of the oil and gas producer’s stock valued at $626,000 after acquiring an additional 616 shares during the last quarter. 11.75% of the stock is owned by institutional investors.

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.