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

Delek Logistics Partners, LP (NYSE:DKL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on DKL. Truist Financial boosted 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. Bank of America initiated coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price on the stock. Finally, StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Trading Down 0.4 %

The business has a fifty day moving average price of $40.12 and a 200-day moving average price of $40.48. The stock has a market capitalization of $2.17 billion, a PE ratio of 14.96, a PEG ratio of 1.13 and a beta of 2.10.

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 (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 previous year, the company posted $0.80 earnings per share. On average, equities analysts anticipate that Delek Logistics Partners, LP will post 3.05 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a $1.10 dividend. 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 dividend yield of 10.43%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio is presently 156.03%.

Insider Activity at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin bought 710 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $38.72 per share, for a total transaction of $27,491.20. Following the acquisition, the chairman now directly owns 54,851 shares of the company’s stock, valued at $2,123,830.72. The trade was a 1.31 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 4,835 shares of company stock worth $192,184 in the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in Delek Logistics Partners in the 3rd quarter worth approximately $49,000. Future Financial Wealth Managment LLC purchased a new stake in Delek Logistics Partners in the 3rd quarter worth approximately $70,000. Sittner & Nelson LLC purchased a new stake in Delek Logistics Partners in the 3rd quarter worth approximately $109,000. Millburn Ridgefield Corp purchased a new stake in Delek Logistics Partners in the 3rd quarter worth approximately $131,000. Finally, Stifel Financial Corp purchased a new stake in Delek Logistics Partners in the 3rd quarter worth approximately $206,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.