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

Delek Logistics Partners, LP (NYSE:DKL)’s stock price passed 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 traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on DKL. Bank of America began coverage on 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. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Truist Financial increased their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One 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 MarketBeat, Delek Logistics Partners currently has a consensus rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Performance

The company has a market cap of $2.17 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 1.13 and a beta of 2.10. The stock has a 50-day moving average of $40.12 and a two-hundred day moving average of $40.48.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data 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 for 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 period last year, the business earned $0.80 EPS. Research analysts predict that Delek Logistics Partners, LP will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

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

Insiders Place Their Bets

In other news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the purchase, the chairman now directly owns 162,217 shares in the company, valued at approximately $6,480,569.15. This represents a 2.37 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders acquired 4,835 shares of company stock valued at $192,184. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Infrastructure Capital Advisors LLC boosted its stake in shares of Delek Logistics Partners by 18.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock worth $11,055,000 after buying an additional 39,577 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Delek Logistics Partners by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock valued at $10,678,000 after purchasing an additional 31,654 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Delek Logistics Partners during the second quarter valued at $522,000. Susquehanna Fundamental Investments LLC purchased a new position in Delek Logistics Partners during the second quarter valued at $456,000. Finally, Indie Asset Partners LLC purchased a new position in Delek Logistics Partners during the third quarter valued at $306,000. 11.75% of the stock is currently 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.