Delek Logistics Partners (NYSE:DKL) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Delek Logistics Partners (NYSE:DKL) from a buy rating to a hold rating in a report issued on Thursday.

Several other analysts have also recently issued reports on the stock. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. Bank of America started coverage on shares of 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. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Delek Logistics Partners Trading Down 0.9 %

Shares of DKL stock opened at $38.35 on Thursday. Delek Logistics Partners has a 12 month low of $37.02 and a 12 month high of $53.80. The stock has a market capitalization of $1.81 billion, a P/E ratio of 13.60, a PEG ratio of 1.02 and a beta of 2.12. The firm’s 50 day moving average is $41.12 and its 200 day moving average is $40.24.

Delek Logistics Partners (NYSE:DKL) last posted its 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). Delek Logistics Partners had a negative return on equity of 169.43% 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 prior year, the company earned $0.80 earnings per share. On average, equities analysts predict that Delek Logistics Partners will post 3.41 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 8th will be given a dividend of $1.10 per share. The ex-dividend date is Friday, November 8th. This represents a $4.40 annualized dividend and a dividend yield of 11.47%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Insider Activity

In related news, CFO Reuven Spiegel acquired 3,885 shares of the stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average price of $38.98 per share, for a total transaction of $151,437.30. Following the transaction, the chief financial officer now owns 20,163 shares in the company, valued at $785,953.74. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Reuven Spiegel acquired 3,885 shares of the stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average price of $38.98 per share, for a total transaction of $151,437.30. Following the transaction, the chief financial officer now owns 20,163 shares in the company, valued at $785,953.74. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sherri Anne Brillon bought 2,000 shares of Delek Logistics Partners stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $39.00 per share, for a total transaction of $78,000.00. Following the acquisition, the director now owns 11,433 shares in the company, valued at $445,887. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 12,934 shares of company stock worth $504,348. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. bought a new position in shares of Delek Logistics Partners during the 1st quarter valued at $12,656,000. IFG Advisory LLC bought a new position in shares of Delek Logistics Partners during the 2nd quarter valued at $640,000. Strategic Financial Concepts LLC grew its holdings in shares of Delek Logistics Partners by 4,182.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 484,571 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Delek Logistics Partners by 31.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock worth $563,000 after acquiring an additional 3,215 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Delek Logistics Partners in the 2nd quarter worth $522,000. 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.