Delek Logistics Partners (NYSE:DKL) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Delek Logistics Partners (NYSE:DKL) from a buy rating to a strong-buy rating in a report issued on Wednesday.

Separately, Truist Financial assumed coverage on shares of Delek Logistics Partners in a research note on Friday, April 19th. They issued a buy rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $45.33.

Delek Logistics Partners Stock Down 0.3 %

Shares of DKL traded down $0.13 during mid-day trading on Wednesday, hitting $38.93. 394,714 shares of the company’s stock were exchanged, compared to its average volume of 86,379. The firm has a fifty day moving average of $40.21 and a two-hundred day moving average of $41.04. Delek Logistics Partners has a twelve month low of $37.02 and a twelve month high of $53.80. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.05 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 11.81% and a negative return on equity of 115.32%. The company had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. During the same quarter in the prior year, the business posted $0.73 EPS. On average, equities analysts predict that Delek Logistics Partners will post 3.27 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 9th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.36 dividend on an annualized basis and a yield of 11.20%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 157.40%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DKL. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Delek Logistics Partners by 205.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after purchasing an additional 997,860 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Delek Logistics Partners by 4,182.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 484,571 shares during the period. Westwood Holdings Group Inc. bought a new stake in Delek Logistics Partners in the 1st quarter valued at $12,656,000. Kayne Anderson Capital Advisors LP bought a new stake in Delek Logistics Partners in the 1st quarter valued at $10,304,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Delek Logistics Partners in the 1st quarter valued at $3,074,000. 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.