Delek Logistics Partners (NYSE:DKL) Price Target Raised to $46.00 at Raymond James

Delek Logistics Partners (NYSE:DKL) had its price target lifted by Raymond James from $44.00 to $46.00 in a report published on Tuesday,Benzinga reports. Raymond James currently has an outperform rating on the oil and gas producer’s stock.

Other analysts have also issued reports about the stock. Truist Financial lifted their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, 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 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.25.

Delek Logistics Partners Trading Down 0.1 %

Shares of DKL opened at $43.49 on Tuesday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.40 and a beta of 2.10. The business’s fifty day simple moving average is $41.45 and its two-hundred day simple moving average is $40.82. Delek Logistics Partners has a 12 month low of $37.02 and a 12 month high of $47.67.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $270.98 million. During the same period last year, the business earned $0.80 earnings per share. As a group, research analysts forecast that Delek Logistics Partners will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $1.105 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 dividend on an annualized basis and a yield of 10.16%. The ex-dividend date is Tuesday, February 4th. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Insider Transactions at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin acquired 710 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $38.72 per share, with a total value of $27,491.20. Following the completion of the purchase, the chairman now directly owns 54,851 shares of the company’s stock, valued at $2,123,830.72. This represents a 1.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 4,835 shares of company stock worth $192,184 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DKL. Strategic Financial Concepts LLC increased its stake in shares of Delek Logistics Partners by 3,838.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after purchasing an additional 464,343 shares in the last quarter. Infrastructure Capital Advisors LLC increased 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 buying an additional 39,577 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Delek Logistics Partners by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock valued at $10,678,000 after acquiring an additional 31,654 shares during the period. Castellan Group lifted its position in shares of Delek Logistics Partners by 3.8% in the fourth quarter. Castellan Group now owns 82,142 shares of the oil and gas producer’s stock valued at $3,471,000 after acquiring an additional 3,016 shares in the last quarter. Finally, Adams Asset Advisors LLC bought a new position in shares of Delek Logistics Partners in the fourth quarter worth about $2,544,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.