Delek Logistics Partners (NYSE:DKL) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Delek Logistics Partners (NYSE:DKL) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $46.00 target price on the oil and gas producer’s stock.

A number of other brokerages have also recently issued reports on DKL. Raymond James upgraded shares of Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price target on the stock in a research note on Tuesday, March 19th. StockNews.com upgraded shares of Delek Logistics Partners from a hold rating to a buy rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $45.33.

Delek Logistics Partners Trading Up 0.9 %

Shares of DKL stock opened at $38.36 on Friday. Delek Logistics Partners has a 12 month low of $36.50 and a 12 month high of $58.81. The stock has a market cap of $1.67 billion, a PE ratio of 13.23 and a beta of 2.07. The company’s fifty day moving average price is $41.63 and its 200-day moving average price is $44.26.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $254.15 million for the quarter, compared to analysts’ expectations of $272.51 million. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. On average, sell-side analysts forecast that Delek Logistics Partners will post 3.48 earnings per share for the current fiscal year.

Delek Logistics Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 1st were given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, February 29th. Delek Logistics Partners’s dividend payout ratio (DPR) is 145.52%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Delek Logistics Partners by 245.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,826 shares of the oil and gas producer’s stock valued at $20,930,000 after purchasing an additional 344,464 shares during the last quarter. Alps Advisors Inc. increased its holdings in Delek Logistics Partners by 13.1% in the 3rd quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock worth $64,306,000 after acquiring an additional 177,242 shares in the last quarter. Infrastructure Capital Advisors LLC increased its holdings in Delek Logistics Partners by 343.5% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 223,208 shares of the oil and gas producer’s stock worth $9,368,000 after acquiring an additional 172,874 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Delek Logistics Partners by 15.6% in the 1st quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer’s stock worth $8,613,000 after acquiring an additional 26,425 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Delek Logistics Partners by 14.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 151,431 shares of the oil and gas producer’s stock worth $6,537,000 after acquiring an additional 19,500 shares in the last quarter. Hedge funds and other 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.