Delek Logistics Partners (NYSE:DKL) Sees Strong Trading Volume

Delek Logistics Partners, LP (NYSE:DKL) shares saw strong trading volume on Tuesday . 48,055 shares changed hands during mid-day trading, a decline of 30% from the previous session’s volume of 68,236 shares.The stock last traded at $41.02 and had previously closed at $40.84.

Wall Street Analyst Weigh In

Separately, Raymond James raised shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Tuesday, March 19th.

Delek Logistics Partners Stock Performance

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 14.07 and a beta of 2.08. The firm has a 50 day moving average price of $43.78 and a 200-day moving average price of $44.66.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. The company had revenue of $254.15 million during the quarter, compared to analysts’ expectations of $272.51 million. As a group, equities analysts expect that Delek Logistics Partners, LP will post 3.48 earnings per share for the current fiscal year.

Delek Logistics Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 1st were given a dividend of $0.245 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.98 dividend on an annualized basis and a yield of 2.40%. Delek Logistics Partners’s payout ratio is presently 145.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DKL. Citigroup Inc. bought a new stake in shares of Delek Logistics Partners during the first quarter worth $35,000. VitalStone Financial LLC boosted its holdings in shares of Delek Logistics Partners by 6,040.0% during the 2nd quarter. VitalStone Financial LLC now owns 921 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 906 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Delek Logistics Partners during the 4th quarter valued at $86,000. Fifth Third Bancorp acquired a new position in Delek Logistics Partners during the 3rd quarter worth about $103,000. Finally, Barclays PLC lifted its holdings in Delek Logistics Partners by 668.7% during the 4th quarter. Barclays PLC now owns 2,629 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 2,287 shares during the period. 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.