Delek Logistics Partners (NYSE:DKL) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Delek Logistics Partners, LP (NYSE:DKL) passed 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.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Truist Financial raised their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Bank of America began coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Delek Logistics Partners presently has a consensus rating of “Hold” and an average target price of $44.00.

Delek Logistics Partners Stock Down 0.4 %

The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 1.15 and a beta of 2.12. The company has a 50-day moving average price of $40.12 and a 200 day moving average price of $40.49.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The business had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the prior year, the company earned $0.80 EPS. Equities analysts forecast that Delek Logistics Partners, LP will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a dividend of $1.10 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a dividend yield of 10.43%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners’s payout ratio is currently 156.03%.

Insider Buying and Selling

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin bought 710 shares of the firm’s 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 transaction, the chairman now directly owns 54,851 shares of the company’s stock, valued at approximately $2,123,830.72. The trade was a 1.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders bought 4,835 shares of company stock worth $192,184. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of Delek Logistics Partners during the 2nd quarter valued at about $522,000. Infrastructure Capital Advisors LLC raised its position in shares of Delek Logistics Partners by 18.6% in the third quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock valued at $11,055,000 after purchasing an additional 39,577 shares during the period. Stifel Financial Corp acquired a new stake in shares of Delek Logistics Partners in the third quarter worth $206,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Delek Logistics Partners during the 2nd quarter worth $456,000. Finally, Farther Finance Advisors LLC acquired a new position in Delek Logistics Partners in the 3rd quarter valued at $49,000. 11.75% of the stock is owned by institutional investors and hedge funds.

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.