Delek Logistics Partners (NYSE:DKL) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Delek Logistics Partners (NYSE:DKL) from a buy rating to a hold rating in a research note released on Thursday morning.

Several other equities research analysts have also recently commented on DKL. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. Bank of America initiated coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners currently has a consensus rating of “Hold” and an average price target of $43.00.

Delek Logistics Partners Stock Down 0.9 %

Shares of Delek Logistics Partners stock opened at $38.35 on Thursday. The firm has a market cap of $1.81 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.02 and a beta of 2.12. Delek Logistics Partners has a 12-month low of $37.02 and a 12-month high of $53.80. The company’s fifty day simple moving average is $41.12 and its two-hundred day simple moving average is $40.24.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 169.43% and a net margin of 13.15%. The company had revenue of $214.07 million during the quarter, compared to analysts’ expectations of $270.98 million. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 8th will be given a dividend of $1.10 per share. This is a boost 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 11.47%. The ex-dividend date is Friday, November 8th. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, Director Sherri Anne Brillon purchased 2,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of $39.00 per share, with a total value of $78,000.00. Following the transaction, the director now directly owns 11,433 shares in the company, valued at approximately $445,887. The trade was 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 news, President Avigal Soreq bought 2,563 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was acquired at an average cost of $39.00 per share, with a total value of $99,957.00. Following the completion of the acquisition, the president now owns 46,758 shares of the company’s stock, valued at approximately $1,823,562. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherri Anne Brillon bought 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was purchased at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders acquired a total of 12,934 shares of company stock valued at $504,348 in the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners in the third quarter worth about $49,000. Future Financial Wealth Managment LLC purchased a new position in Delek Logistics Partners in the third quarter worth about $70,000. Sittner & Nelson LLC purchased a new position in Delek Logistics Partners in the third quarter worth about $109,000. Van ECK Associates Corp raised its holdings in Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after buying an additional 1,437 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in Delek Logistics Partners in the third quarter worth about $211,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.