Delek Logistics Partners (NYSE:DKL) Given New $46.00 Price Target at Raymond James

Delek Logistics Partners (NYSE:DKL) had its price target hoisted by Raymond James from $44.00 to $46.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

DKL has been the subject of a number of other research reports. StockNews.com downgraded shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America started coverage on Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target for the company. Finally, Truist Financial boosted their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.25.

Delek Logistics Partners Price Performance

NYSE DKL opened at $42.89 on Tuesday. The stock’s 50 day simple moving average is $41.38 and its 200-day simple moving average is $40.80. The company has a market cap of $2.21 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.40 and a beta of 2.10. Delek Logistics Partners has a 1-year low of $37.02 and a 1-year high of $47.67.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The firm had revenue of $214.07 million during the quarter, compared to analysts’ expectations of $270.98 million. During the same quarter in the previous year, the business posted $0.80 EPS. On average, equities research analysts anticipate that Delek Logistics Partners will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $1.105 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.31%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 156.03%.

Insider Activity at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin acquired 3,750 shares of Delek Logistics Partners stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the acquisition, the chairman now owns 162,217 shares in the company, valued at approximately $6,480,569.15. This represents a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have acquired 4,835 shares of company stock worth $192,184. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC purchased a new position in shares of Delek Logistics Partners during the third quarter worth $49,000. Apollon Wealth Management LLC boosted its holdings in Delek Logistics Partners by 19.1% during the 4th quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 1,223 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Delek Logistics Partners during the third quarter worth about $70,000. Sittner & Nelson LLC acquired a new stake in shares of Delek Logistics Partners during the third quarter worth about $109,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Delek Logistics Partners in the third quarter valued at approximately $131,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About Delek Logistics Partners

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.