Delek Logistics Partners (NYSE:DKL) Announces Earnings Results

Delek Logistics Partners (NYSE:DKL) issued its earnings results on Tuesday. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06), Zacks reports. The business had revenue of $209.86 million for the quarter, compared to the consensus estimate of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%.

Delek Logistics Partners Stock Performance

DKL stock opened at $41.53 on Thursday. The stock has a market cap of $2.14 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.28 and a beta of 2.10. The firm has a 50 day simple moving average of $42.30 and a 200 day simple moving average of $40.97. Delek Logistics Partners has a 52 week low of $37.02 and a 52 week high of $46.50.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were given a $1.105 dividend. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.64%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Tuesday, February 4th. Delek Logistics Partners’s dividend payout ratio is 156.74%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DKL. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Truist Financial boosted their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Raymond James raised their price objective on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Delek Logistics Partners presently has an average rating of “Hold” and an average price target of $44.25.

Insiders Place Their Bets

In other news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $39.95 per share, with a total value of $149,812.50. Following the purchase, the chairman now directly owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Delek Logistics Partners Company Profile

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.