Bank of America Begins Coverage on Delek Logistics Partners (NYSE:DKL)

Bank of America began coverage on shares of Delek Logistics Partners (NYSE:DKL) in a report published on Thursday, Marketbeat Ratings reports. The brokerage issued an underperform rating and a $36.00 price target on the oil and gas producer’s stock.

A number of other equities research analysts have also recently commented on DKL. StockNews.com cut Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Delek Logistics Partners Stock Performance

Shares of DKL opened at $38.67 on Thursday. The business’s 50-day moving average is $41.13 and its two-hundred day moving average is $40.21. The company has a market capitalization of $1.83 billion, a P/E ratio of 13.96 and a beta of 2.11. Delek Logistics Partners has a fifty-two week low of $37.02 and a fifty-two week high of $53.80.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. The company had revenue of $264.63 million for the quarter, compared to the consensus estimate of $257.17 million. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. During the same period last year, the firm earned $0.73 EPS. Analysts forecast that Delek Logistics Partners will post 3.41 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a $1.09 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.36 dividend on an annualized basis and a yield of 11.27%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 157.40%.

Insider Activity at Delek Logistics Partners

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in Delek Logistics Partners in the 1st quarter worth approximately $66,000. Van ECK Associates Corp raised its position in shares of Delek Logistics Partners by 76.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after buying an additional 1,437 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at approximately $203,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at approximately $456,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at approximately $522,000. 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.