StockNews.com Downgrades Delek Logistics Partners (NYSE:DKL) to Buy

StockNews.com cut shares of Delek Logistics Partners (NYSE:DKL) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Separately, Citigroup upgraded shares of Delek Logistics Partners from a neutral rating to a buy rating and raised their price target for the stock from $44.00 to $45.00 in a report on Wednesday, August 28th.

Delek Logistics Partners Stock Up 1.5 %

Shares of Delek Logistics Partners stock opened at $42.96 on Tuesday. The business has a fifty day simple moving average of $40.82 and a 200-day simple moving average of $40.08. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 15.47 and a beta of 2.11. Delek Logistics Partners has a fifty-two week low of $37.02 and a fifty-two week high of $53.80.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (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 company had revenue of $264.63 million for the quarter, compared to analysts’ expectations of $257.17 million. During the same quarter in the previous year, the company posted $0.73 EPS. Analysts anticipate that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a $1.09 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 annualized dividend and a dividend yield of 10.15%. Delek Logistics Partners’s payout ratio is presently 157.40%.

Insider Buying and Selling

In other Delek Logistics Partners news, Director Sherri Anne Brillon bought 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the transaction, the director now directly owns 11,433 shares of the company’s stock, valued at approximately $445,887. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Sherri Anne Brillon purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $39.00 per share, for a total transaction of $78,000.00. Following the completion of the acquisition, the director now directly owns 11,433 shares of the company’s stock, valued at $445,887. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Reuven Spiegel acquired 3,885 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the purchase, the chief financial officer now directly owns 20,163 shares of the company’s stock, valued at approximately $785,953.74. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Delek Logistics Partners by 205.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after purchasing an additional 997,860 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after buying an additional 484,571 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Delek Logistics Partners during the first quarter worth about $12,656,000. Kayne Anderson Capital Advisors LP bought a new position in Delek Logistics Partners during the first quarter valued at about $10,304,000. Finally, GSA Capital Partners LLP raised its holdings in Delek Logistics Partners by 263.8% in the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock valued at $1,539,000 after acquiring an additional 27,217 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.