Truist Financial Forecasts Strong Price Appreciation for Delek Logistics Partners (NYSE:DKL) Stock

Delek Logistics Partners (NYSE:DKL) had its price objective hoisted by Truist Financial from $46.00 to $50.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other brokerages have also commented on DKL. Bank of America initiated coverage on shares of Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target for the company. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $45.00 in a report on Wednesday, August 28th. Finally, StockNews.com lowered 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. Based on data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $39.76 on Monday. The company’s 50-day moving average is $40.67 and its 200 day moving average is $40.19. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.13 and a beta of 2.12. Delek Logistics Partners has a one year low of $37.02 and a one year high of $53.80.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The business had revenue of $214.07 million for the quarter, compared to the consensus estimate of $270.98 million. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, research analysts predict that Delek Logistics Partners will post 3.08 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a dividend of $1.10 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 11.07%. Delek Logistics Partners’s payout ratio is presently 156.03%.

Insider Activity at Delek Logistics Partners

In other news, CFO Reuven Spiegel purchased 1,282 shares of the stock in a transaction on Thursday, October 10th. The shares were acquired at an average price of $39.00 per share, with a total value of $49,998.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,223 shares of the company’s stock, valued at $788,697. This trade represents a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Ezra Uzi Yemin acquired 710 shares of Delek Logistics Partners stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $38.72 per share, with a total value of $27,491.20. Following the completion of the purchase, the chairman now owns 54,851 shares of the company’s stock, valued at approximately $2,123,830.72. This represents a 1.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 7,759 shares of company stock worth $302,402. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp bought a new position in shares of Delek Logistics Partners in the third quarter worth about $206,000. Millburn Ridgefield Corp purchased a new position in Delek Logistics Partners in the 3rd quarter worth approximately $131,000. Infrastructure Capital Advisors LLC boosted its stake in Delek Logistics Partners by 18.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock worth $11,055,000 after purchasing an additional 39,577 shares during the period. Apollon Wealth Management LLC purchased a new stake in Delek Logistics Partners during the 3rd quarter valued at approximately $281,000. Finally, Lindbrook Capital LLC bought a new stake in shares of Delek Logistics Partners during the third quarter valued at approximately $219,000. 11.75% of the stock is owned by institutional investors.

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.