Delek Logistics Partners (NYSE:DKL) Issues Earnings Results

Delek Logistics Partners (NYSE:DKL) announced its earnings results on Tuesday. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06), Zacks reports. The business had revenue of $209.86 million for the quarter, compared to analysts’ expectations of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%.

Delek Logistics Partners Stock Up 3.5 %

Shares of NYSE:DKL opened at $41.43 on Wednesday. Delek Logistics Partners has a 52 week low of $37.02 and a 52 week high of $46.50. The company has a 50-day moving average price of $42.27 and a 200 day moving average price of $40.97. The company has a market cap of $2.13 billion, a P/E ratio of 14.69, a PEG ratio of 1.28 and a beta of 2.10.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were paid a dividend of $1.105 per share. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.67%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, February 4th. Delek Logistics Partners’s payout ratio is 156.74%.

Insiders Place Their Bets

In related news, Chairman Ezra Uzi Yemin bought 3,750 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the transaction, the chairman now 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 legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DKL. Truist Financial increased their price target on shares of 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 increased their target price on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.25.

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.