Delek Logistics Partners (NYSE:DKL) Price Target Raised to $46.00

Delek Logistics Partners (NYSE:DKL) had its price objective upped by Raymond James from $44.00 to $46.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

DKL has been the topic of a number of other research reports. Bank of America assumed coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price objective on the stock. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Truist Financial lifted their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.25.

Delek Logistics Partners Trading Down 0.1 %

DKL opened at $43.49 on Tuesday. The company has a market cap of $2.24 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.40 and a beta of 2.10. Delek Logistics Partners has a 12 month low of $37.02 and a 12 month high of $47.67. The business’s 50-day moving average price is $41.45 and its 200-day moving average price is $40.82.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. During the same quarter in the previous year, the firm posted $0.80 EPS. Equities research analysts forecast that Delek Logistics Partners 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 will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th will be given a dividend of $1.105 per share. This represents a $4.42 annualized dividend and a yield of 10.16%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date is Tuesday, February 4th. Delek Logistics Partners’s payout ratio is presently 156.03%.

Insider Transactions at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin purchased 710 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, November 14th. The shares were 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 directly owns 54,851 shares in the company, valued at approximately $2,123,830.72. This trade represents a 1.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders bought 4,835 shares of company stock valued at $192,184. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

A number of hedge funds have recently modified their holdings of the business. Castellan Group lifted its position in Delek Logistics Partners by 3.8% during the 4th quarter. Castellan Group now owns 82,142 shares of the oil and gas producer’s stock valued at $3,471,000 after acquiring an additional 3,016 shares during the period. Van ECK Associates Corp boosted its position in shares of Delek Logistics Partners by 74.6% in the 4th quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 2,074 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Delek Logistics Partners in the 4th quarter worth approximately $621,000. Focus Financial Network Inc. increased its position in Delek Logistics Partners by 5.6% during the 4th quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer’s stock valued at $429,000 after buying an additional 542 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new position in Delek Logistics Partners during the fourth quarter valued at $482,000. 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.