Delek Logistics Partners (NYSE:DKL) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Delek Logistics Partners (NYSE:DKLFree Report) from a hold rating to a buy rating in a report issued on Saturday.

A number of other equities research analysts have also issued reports on DKL. Truist Financial initiated coverage on Delek Logistics Partners in a research report on Friday, April 19th. They issued a buy rating and a $46.00 target price on the stock. Raymond James raised shares of Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price objective on the stock in a research report on Tuesday, March 19th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $45.33.

Get Our Latest Stock Analysis on Delek Logistics Partners

Delek Logistics Partners Trading Down 1.3 %

NYSE DKL opened at $38.55 on Friday. Delek Logistics Partners has a 12 month low of $36.50 and a 12 month high of $58.81. The company has a market capitalization of $1.68 billion, a PE ratio of 13.92 and a beta of 2.07. The stock has a 50-day simple moving average of $39.80 and a 200 day simple moving average of $43.92.

Delek Logistics Partners (NYSE:DKLGet Free Report) last released its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Delek Logistics Partners had a negative return on equity of 115.32% and a net margin of 11.81%. The firm had revenue of $254.15 million during the quarter, compared to analysts’ expectations of $272.51 million. As a group, sell-side analysts predict that Delek Logistics Partners will post 3.27 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a dividend of $1.025 per share. The ex-dividend date is Tuesday, May 7th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 10.64%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.25. Delek Logistics Partners’s dividend payout ratio is currently 154.51%.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thoroughbred Financial Services LLC lifted its stake in Delek Logistics Partners by 9.6% in the fourth quarter. Thoroughbred Financial Services LLC now owns 7,379 shares of the oil and gas producer’s stock valued at $318,000 after acquiring an additional 648 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Delek Logistics Partners by 12.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 11,500 shares of the oil and gas producer’s stock valued at $496,000 after purchasing an additional 1,289 shares during the last quarter. Tortoise Index Solutions LLC grew its holdings in Delek Logistics Partners by 12.9% during the fourth quarter. Tortoise Index Solutions LLC now owns 11,527 shares of the oil and gas producer’s stock worth $498,000 after purchasing an additional 1,316 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Delek Logistics Partners during the first quarter worth approximately $66,000. Finally, Spirit of America Management Corp NY bought a new stake in Delek Logistics Partners in the fourth quarter valued at approximately $86,000. 11.75% of the stock is owned by institutional investors.

Delek Logistics Partners Company Profile

(Get Free Report)

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.

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