Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Delek Logistics Partners, LP (NYSE:DKL)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $40.28 and traded as high as $41.28. Delek Logistics Partners shares last traded at $41.09, with a volume of 58,702 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America initiated coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price on the stock. Truist Financial increased their target price on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $45.00 in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Up 0.5 %

The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.13 and a beta of 2.12. The business’s 50 day simple moving average is $39.33 and its 200 day simple moving average is $40.28.

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 (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.19). The firm had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same quarter last year, the business posted $0.80 earnings per share. Equities research analysts forecast that Delek Logistics Partners, LP will post 3.05 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 dividend on an annualized basis and a dividend yield of 10.71%. Delek Logistics Partners’s payout ratio is presently 156.03%.

Insider Activity at Delek Logistics Partners

In other news, President Avigal Soreq bought 2,563 shares of the stock in a transaction dated Thursday, October 10th. The shares were bought at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the purchase, the president now owns 46,758 shares in the company, valued at approximately $1,823,562. This trade represents a 5.80 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Reuven Spiegel purchased 1,282 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were purchased at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the acquisition, the chief financial officer now owns 20,223 shares in the company, valued at $788,697. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 11,884 shares of company stock worth $467,095. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DKL. Farther Finance Advisors LLC bought a new stake in shares of Delek Logistics Partners in the third quarter valued at about $49,000. Future Financial Wealth Managment LLC bought a new stake in Delek Logistics Partners in the 3rd quarter valued at about $70,000. Sittner & Nelson LLC acquired a new position in shares of Delek Logistics Partners during the 3rd quarter worth approximately $109,000. Millburn Ridgefield Corp bought a new position in shares of Delek Logistics Partners during the third quarter worth approximately $131,000. Finally, Van ECK Associates Corp increased its holdings in shares of Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after purchasing an additional 1,437 shares during the period. 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.