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

Delek Logistics Partners, LP (NYSE:DKL) passed 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 trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on DKL. Truist Financial raised their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Raymond James raised their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Delek Logistics Partners presently has an average rating of “Hold” and an average price target of $44.25.

Delek Logistics Partners Stock Performance

The business has a fifty day simple moving average of $42.32 and a 200 day simple moving average of $41.18. The stock has a market cap 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 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The company had revenue of $209.86 million for 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, equities research analysts anticipate that Delek Logistics Partners, LP will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $4.42 annualized dividend and a dividend yield of 10.61%. Delek Logistics Partners’s dividend payout ratio (DPR) is 147.83%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin acquired 3,750 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $39.95 per share, for a total transaction 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 trade represents a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in Delek Logistics Partners in the fourth quarter valued at $64,000. Millburn Ridgefield Corp acquired a new position in Delek Logistics Partners in the third quarter valued at $131,000. Stifel Financial Corp acquired a new position in Delek Logistics Partners in the third quarter valued at $206,000. Van ECK Associates Corp boosted its holdings in Delek Logistics Partners by 74.6% in the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock valued at $205,000 after acquiring an additional 2,074 shares during the last quarter. Finally, GeoWealth Management LLC acquired a new position in Delek Logistics Partners in the fourth quarter valued at $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.