Delek Logistics Partners (NYSE:DKL) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Delek Logistics Partners (NYSE:DKL) in a report released on Thursday, MarketBeat reports. The firm issued an underperform rating and a $36.00 price target on the oil and gas producer’s stock.

A number of other equities analysts have also recently weighed in on DKL. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $45.00 in a report on Wednesday, August 28th. StockNews.com downgraded shares of Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, Delek Logistics Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Delek Logistics Partners Stock Down 0.9 %

Shares of DKL stock opened at $38.86 on Thursday. The stock’s 50-day moving average price is $41.14 and its 200 day moving average price is $40.23. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $53.80. The stock has a market capitalization of $1.83 billion, a PE ratio of 14.03 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The company had revenue of $264.63 million during the quarter, compared to the consensus estimate of $257.17 million. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. During the same period last year, the firm earned $0.73 EPS. Analysts expect that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were issued a $1.09 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 11.22%. Delek Logistics Partners’s dividend payout ratio is currently 157.40%.

Insider Buying and Selling

In related news, Director Sherri Anne Brillon bought 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was bought at an average price of $39.00 per share, with a total value of $78,000.00. Following the purchase, the director now directly owns 11,433 shares of the company’s stock, valued at approximately $445,887. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Delek Logistics Partners news, CFO Reuven Spiegel acquired 3,885 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $38.98 per share, with a total value of $151,437.30. Following the completion of the transaction, the chief financial officer now owns 20,163 shares in the company, valued at $785,953.74. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sherri Anne Brillon bought 2,000 shares of Delek Logistics Partners stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $39.00 per share, with a total value of $78,000.00. Following the completion of the purchase, the director now directly owns 11,433 shares of the company’s stock, valued at approximately $445,887. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 12,934 shares of company stock worth $504,348. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in Delek Logistics Partners during the first quarter worth $66,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 acquiring an additional 997,860 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Delek Logistics Partners by 263.8% in the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock worth $1,539,000 after purchasing an additional 27,217 shares during the last quarter. Kayne Anderson Capital Advisors LP acquired a new stake in Delek Logistics Partners in the 1st quarter worth approximately $10,304,000. Finally, Westwood Holdings Group Inc. bought a new stake in Delek Logistics Partners during the first quarter worth approximately $12,656,000. Institutional investors own 11.75% of the company’s stock.

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.