Truist Financial Issues Positive Forecast for Delek Logistics Partners (NYSE:DKL) Stock Price

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

DKL has been the topic of several other research reports. Bank of America assumed coverage on Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target on the stock. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. Finally, StockNews.com cut shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $38.96 on Monday. The company has a 50-day moving average of $40.78 and a 200-day moving average of $40.21. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.12 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.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results 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). The business had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. During the same period in the previous year, the firm earned $0.80 earnings per share. Sell-side analysts forecast that Delek Logistics Partners will post 3.08 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were issued a $1.10 dividend. The ex-dividend date of this dividend was 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 11.29%. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Insider Activity

In other Delek Logistics Partners news, CFO Reuven Spiegel bought 3,885 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $38.98 per share, with a total value of $151,437.30. Following the completion of the purchase, the chief financial officer now owns 20,163 shares in the company, valued at approximately $785,953.74. The trade was a 23.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Avigal Soreq purchased 2,563 shares of the stock in a transaction on Thursday, October 10th. The stock was 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. This represents a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 11,644 shares of company stock valued at $453,840 in the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DKL. Westwood Holdings Group Inc. bought a new position in shares of Delek Logistics Partners in the 1st quarter valued at about $12,656,000. B. Riley Wealth Advisors Inc. boosted its holdings in Delek Logistics Partners by 31.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after purchasing an additional 3,215 shares during the period. HB Wealth Management LLC acquired a new position in shares of Delek Logistics Partners during the 2nd quarter worth approximately $203,000. IFG Advisory LLC acquired a new position in Delek Logistics Partners during the second quarter valued at approximately $640,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Delek Logistics Partners by 76.0% in the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after purchasing an additional 1,437 shares in the last quarter. Institutional investors and hedge funds 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.