Delek Logistics Partners (NYSE:DKL) Issues Earnings Results

Delek Logistics Partners (NYSE:DKL) announced its quarterly earnings results on Tuesday. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.06), Zacks reports. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The business had revenue of $209.86 million during the quarter, compared to analysts’ expectations of $240.05 million.

Delek Logistics Partners Stock Up 3.5 %

DKL stock opened at $41.43 on Wednesday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.28 and a beta of 2.10. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $46.50. The stock’s fifty day simple moving average is $42.27 and its 200-day simple moving average is $40.97.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were paid a dividend of $1.105 per share. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.67%. The ex-dividend date was Tuesday, February 4th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio is currently 156.74%.

Insider Activity at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin bought 3,750 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $39.95 per share, with a total value of $149,812.50. Following the completion of the transaction, the chairman now owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. The trade was a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on DKL shares. Truist Financial lifted their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Raymond James increased their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Delek Logistics Partners has a consensus rating of “Hold” and a consensus price target of $44.25.

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.