Delek Logistics Partners (NYSE:DKL) Stock Passes Above 200-Day Moving Average – Here’s Why

Delek Logistics Partners, LP (NYSE:DKL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.16 and traded as high as $41.95. Delek Logistics Partners shares last traded at $40.99, with a volume of 136,674 shares.

Wall Street Analyst Weigh In

DKL has been the topic of several recent research reports. Raymond James upped their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Truist Financial upped their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Delek Logistics Partners has a consensus rating of “Hold” and an average target price of $44.25.

Delek Logistics Partners Stock Performance

The company has a 50-day moving average price of $42.32 and a 200-day moving average price of $41.18. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.28 and a beta of 2.01.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The firm had revenue of $209.86 million during the quarter, compared to analyst estimates of $240.05 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. On average, research analysts expect that Delek Logistics Partners, LP will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were given a $1.105 dividend. The ex-dividend date was Tuesday, February 4th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.61%. Delek Logistics Partners’s dividend payout ratio is 147.83%.

Insider Activity at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin bought 3,750 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $39.95 per share, with a total value of $149,812.50. Following the transaction, the chairman now directly owns 162,217 shares in the company, valued at $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC acquired a new stake in Delek Logistics Partners during the 4th quarter worth approximately $64,000. Millburn Ridgefield Corp acquired a new stake in Delek Logistics Partners during the 3rd quarter worth approximately $131,000. Stifel Financial Corp acquired a new stake in Delek Logistics Partners during the 3rd quarter worth approximately $206,000. Van ECK Associates Corp lifted its position in Delek Logistics Partners by 74.6% during the 4th quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 2,074 shares during the period. Finally, GeoWealth Management LLC acquired a new stake in Delek Logistics Partners during the 4th quarter worth approximately $206,000. 11.75% of the stock is owned by institutional investors and hedge funds.

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.