Delek Logistics Partners (NYSE:DKL) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Delek Logistics Partners, LP (NYSE:DKL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.16 and traded as high as $41.95. Delek Logistics Partners shares last traded at $40.99, with a volume of 136,674 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DKL shares. Truist Financial upped their price objective 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. Raymond James upped their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.25.

Delek Logistics Partners Stock Performance

The stock has a market capitalization of $2.20 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.28 and a beta of 2.01. The company’s 50-day moving average price is $42.33 and its 200 day moving average price is $41.16.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The business had revenue of $209.86 million during the quarter, compared to analysts’ expectations of $240.05 million. Analysts predict that Delek Logistics Partners, LP will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 dividend on an annualized basis and a yield of 10.78%. The ex-dividend date of this dividend was Tuesday, February 4th. Delek Logistics Partners’s dividend payout ratio (DPR) is 147.83%.

Insider Transactions at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin acquired 3,750 shares of the company’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $39.95 per share, with a total value of $149,812.50. Following the acquisition, the chairman now directly owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Several large investors have recently made changes to their positions in the company. Strategic Financial Concepts LLC increased its stake in Delek Logistics Partners by 3,838.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after acquiring an additional 464,343 shares during the last quarter. Bank of Montreal Can purchased a new stake in Delek Logistics Partners during the fourth quarter valued at $17,819,000. ING Groep NV lifted its position in Delek Logistics Partners by 2,491.7% during the fourth quarter. ING Groep NV now owns 311,000 shares of the oil and gas producer’s stock valued at $13,143,000 after purchasing an additional 299,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Delek Logistics Partners by 42.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 969,982 shares of the oil and gas producer’s stock valued at $40,991,000 after purchasing an additional 288,033 shares during the last quarter. Finally, Cohen & Steers Inc. bought a new stake in shares of Delek Logistics Partners in the 4th quarter worth about $11,805,000. 11.75% of the stock is owned by institutional investors.

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.