Delek Logistics Partners (NYSE:DKL) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Delek Logistics Partners, LP (NYSE:DKL) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $40.48 and traded as high as $42.73. Delek Logistics Partners shares last traded at $42.20, with a volume of 64,032 shares.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DKL. 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 initiated coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target on the stock. Finally, Truist Financial lifted their price objective 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Down 0.4 %

The business has a fifty day simple moving average of $40.12 and a two-hundred day simple moving average of $40.49. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.15 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results 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). The company had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same quarter last year, the company earned $0.80 earnings per share. As a group, equities analysts predict that Delek Logistics Partners, LP will post 3.05 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 dividend on an annualized basis and a yield of 10.43%. Delek Logistics Partners’s payout ratio is 156.03%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $39.95 per share, with a total value of $149,812.50. Following the completion of the acquisition, the chairman now directly owns 162,217 shares of the company’s stock, valued at $6,480,569.15. This represents a 2.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders bought 4,835 shares of company stock valued at $192,184. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DKL. Farther Finance Advisors LLC bought a new stake in shares of Delek Logistics Partners during the third quarter valued at approximately $49,000. Future Financial Wealth Managment LLC bought a new stake in shares of Delek Logistics Partners during the third quarter worth $70,000. Sittner & Nelson LLC acquired a new position in shares of Delek Logistics Partners during the third quarter valued at $109,000. Millburn Ridgefield Corp bought a new stake in Delek Logistics Partners during the 3rd quarter worth about $131,000. Finally, Stifel Financial Corp acquired a new position in Delek Logistics Partners during the 3rd quarter valued at about $206,000. Institutional investors and hedge funds 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.