Delek Logistics Partners (NYSE:DKL) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $48.82 and traded as high as $51.17. Delek Logistics Partners shares last traded at $50.6390, with a volume of 80,371 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on DKL. Mizuho upped their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Truist Financial began coverage on shares of Delek Logistics Partners in a report on Tuesday, March 24th. They set a “hold” rating and a $57.00 price target for the company. Citigroup reiterated a “neutral” rating and set a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a report on Friday, March 6th. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a report on Thursday, April 30th. Finally, Zacks Research lowered shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Two equities research 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’s stock. According to data from MarketBeat, Delek Logistics Partners has an average rating of “Hold” and a consensus price target of $55.25.

Delek Logistics Partners Trading Down 0.3%

The firm has a market cap of $2.72 billion, a P/E ratio of 16.10, a PEG ratio of 0.59 and a beta of 0.50. The firm’s fifty day moving average is $51.57 and its two-hundred day moving average is $48.82. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.20). The company had revenue of $297.47 million during the quarter, compared to the consensus estimate of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. Analysts predict that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Monday, May 4th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 8.9%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, May 4th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 143.04%.

Institutional Trading of Delek Logistics Partners

Several large investors have recently added to or reduced their stakes in the stock. HB Wealth Management LLC bought a new stake in Delek Logistics Partners in the first quarter valued at $216,000. Castellan Group boosted its holdings in Delek Logistics Partners by 7.6% in the first quarter. Castellan Group now owns 91,162 shares of the oil and gas producer’s stock valued at $4,536,000 after acquiring an additional 6,430 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in Delek Logistics Partners by 91.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 10,782 shares of the oil and gas producer’s stock valued at $537,000 after acquiring an additional 5,141 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Delek Logistics Partners during the fourth quarter valued at $192,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Delek Logistics Partners by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 258 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.