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

Delek Logistics Partners, LP (NYSE:DKL)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.65 and traded as high as $45.47. Delek Logistics Partners shares last traded at $45.25, with a volume of 102,273 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DKL shares. Truist Financial lifted their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America initiated coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target on the stock. One equities research 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.00.

Delek Logistics Partners Trading Up 0.5 %

The business’s 50-day simple moving average is $40.76 and its 200 day simple moving average is $40.65. The company has a market capitalization of $2.33 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.33 and a beta of 2.10.

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 the consensus estimate of $0.90 by ($0.19). The firm had revenue of $214.07 million for the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.80 earnings per share. As a group, sell-side analysts predict that Delek Logistics Partners, LP will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 9.72%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 156.03%.

Insider Activity

In other news, Chairman Ezra Uzi Yemin acquired 710 shares of Delek Logistics Partners stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $38.72 per share, with a total value of $27,491.20. Following the completion of the purchase, the chairman now owns 54,851 shares of the company’s stock, valued at $2,123,830.72. This represents a 1.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders purchased 4,835 shares of company stock worth $192,184. Insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

Several hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new stake in shares of Delek Logistics Partners in the third 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 acquired a new stake in shares of Delek Logistics Partners during the 3rd quarter valued at $109,000. Millburn Ridgefield Corp purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at $131,000. Finally, Stifel Financial Corp acquired a new position in shares of Delek Logistics Partners in the third quarter worth $206,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners

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.