Delek Logistics Partners (NYSE:DKL) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Delek Logistics Partners (NYSE:DKL) from a buy rating to a hold rating in a research report report published on Thursday morning.

DKL has been the topic of several other reports. Bank of America initiated coverage on Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price on the stock. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $45.00 in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Delek Logistics Partners Trading Down 3.7 %

NYSE:DKL traded down $1.46 on Thursday, hitting $38.35. The company had a trading volume of 595,239 shares, compared to its average volume of 106,614. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.01 and a beta of 2.12. Delek Logistics Partners has a 52 week low of $37.02 and a 52 week high of $53.80. The firm has a 50 day moving average of $41.18 and a two-hundred day moving average of $40.24.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The business had revenue of $264.63 million for the quarter, compared to the consensus estimate of $257.17 million. During the same period last year, the company earned $0.73 EPS. As a group, equities analysts forecast that Delek Logistics Partners will post 3.41 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 8th will be paid a $1.10 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 11.47%. Delek Logistics Partners’s payout ratio is 149.83%.

Insiders Place Their Bets

In related news, President Avigal Soreq purchased 2,563 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, with a total value 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 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Delek Logistics Partners news, Director Sherri Anne Brillon purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $39.00 per share, for a total transaction of $78,000.00. Following the purchase, the director now owns 11,433 shares of the company’s stock, valued at $445,887. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Avigal Soreq acquired 2,563 shares of Delek Logistics Partners stock in a transaction dated Thursday, October 10th. The shares were acquired at an average price of $39.00 per share, with a total value of $99,957.00. Following the completion of the acquisition, the president now directly owns 46,758 shares of the company’s stock, valued at approximately $1,823,562. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 12,934 shares of company stock worth $504,348. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Several large investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC bought a new stake in Delek Logistics Partners during the 3rd quarter worth approximately $281,000. Lindbrook Capital LLC purchased a new position in shares of Delek Logistics Partners during the third quarter valued at approximately $219,000. Sittner & Nelson LLC bought a new stake in Delek Logistics Partners during the third quarter worth $109,000. Indie Asset Partners LLC purchased a new stake in Delek Logistics Partners in the 3rd quarter valued at $306,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $49,000. 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.