Delek Logistics Partners (NYSE:DKL) Given New $46.00 Price Target at Raymond James

Delek Logistics Partners (NYSE:DKL) had its target price upped by Raymond James from $44.00 to $46.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

Several other equities analysts have also commented on DKL. Truist Financial increased their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Bank of America started coverage on Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price objective on the stock. Finally, StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.25.

Delek Logistics Partners Stock Performance

Shares of DKL opened at $42.89 on Tuesday. Delek Logistics Partners has a 1 year low of $37.02 and a 1 year high of $47.67. The stock has a market capitalization of $2.21 billion, a PE ratio of 15.21, a PEG ratio of 1.40 and a beta of 2.10. The stock has a 50-day simple moving average of $41.38 and a 200-day simple moving average of $40.80.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The firm had revenue of $214.07 million during the quarter, compared to analysts’ expectations of $270.98 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Analysts predict that Delek Logistics Partners will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $1.105 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $4.42 annualized dividend and a dividend yield of 10.31%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 156.03%.

Insider Transactions at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the purchase, 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 accessible through the SEC website. Over the last 90 days, insiders have bought 4,835 shares of company stock worth $192,184. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in Delek Logistics Partners in the 3rd quarter valued at $49,000. Apollon Wealth Management LLC increased its stake in Delek Logistics Partners by 19.1% in the fourth quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 1,223 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter valued at about $70,000. Sittner & Nelson LLC acquired a new stake in shares of Delek Logistics Partners during the third quarter worth about $109,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Delek Logistics Partners during the third quarter worth about $131,000. 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.