Delek Logistics Partners (NYSE:DKL) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Delek Logistics Partners (NYSE:DKL) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on DKL. Raymond James Financial reissued an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a report on Thursday, April 30th. Truist Financial began coverage on shares of Delek Logistics Partners in a report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 target price on the stock. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Citigroup reiterated a “neutral” rating and set a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Finally, Mizuho raised their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Delek Logistics Partners currently has a consensus rating of “Hold” and an average target price of $55.25.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL opened at $49.79 on Monday. Delek Logistics Partners has a fifty-two week low of $41.72 and a fifty-two week high of $55.89. The business has a 50-day simple moving average of $50.94 and a two-hundred day simple moving average of $50.23. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.92 and a current ratio of 0.96. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 0.58 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The company had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $239.87 million. On average, analysts expect that Delek Logistics Partners will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.13 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Monday, May 4th. This represents a $4.52 annualized dividend and a dividend yield of 9.1%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 143.04%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in 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 worth $248,000 after acquiring an additional 258 shares during the period. American Financial Group Inc. boosted its position in shares of Delek Logistics Partners by 3.0% in the fourth quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock worth $759,000 after purchasing an additional 500 shares during the period. Sharpepoint LLC increased its stake in shares of Delek Logistics Partners by 1.4% in the third quarter. Sharpepoint LLC now owns 37,868 shares of the oil and gas producer’s stock worth $1,725,000 after purchasing an additional 506 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of Delek Logistics Partners by 8.0% during the 3rd quarter. Private Advisor Group LLC now owns 13,537 shares of the oil and gas producer’s stock valued at $616,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

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.