Delek Logistics Partners, L.P. (NYSE:DKL) Given a $33.00 Price Target by Scotiabank Analysts

Scotiabank set a $33.00 target price on Delek Logistics Partners, L.P. (NYSE:DKL) in a report released on Saturday, July 22nd. The firm currently has a hold rating on the oil and gas producer’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Delek Logistics Partners, L.P. from a hold rating to a buy rating and set a $35.00 target price for the company in a research report on Thursday, May 18th. BidaskClub upgraded Delek Logistics Partners, L.P. from a hold rating to a buy rating in a research report on Thursday, July 13th. Finally, Barclays PLC reiterated an equal weight rating and set a $33.00 target price on shares of Delek Logistics Partners, L.P. in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Delek Logistics Partners, L.P. currently has an average rating of Hold and a consensus target price of $34.00.

Delek Logistics Partners, L.P. (NYSE DKL) opened at 30.15 on Friday. The firm has a market capitalization of $734.48 million, a price-to-earnings ratio of 15.89 and a beta of 1.29. The firm’s 50-day moving average price is $32.84 and its 200 day moving average price is $32.01. Delek Logistics Partners, L.P. has a 1-year low of $21.30 and a 1-year high of $36.05.

Delek Logistics Partners, L.P. (NYSE:DKL) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.09. The firm had revenue of $126.80 million during the quarter, compared to the consensus estimate of $140 million. Delek Logistics Partners, L.P. had a net margin of 12.70% and a negative return on equity of 368.38%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, analysts predict that Delek Logistics Partners, L.P. will post $2.30 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Friday, August 4th were given a dividend of $0.705 per share. This is an increase from Delek Logistics Partners, L.P.’s previous quarterly dividend of $0.69. This represents a $2.82 annualized dividend and a dividend yield of 9.35%. The ex-dividend date of this dividend was Wednesday, August 2nd. Delek Logistics Partners, L.P.’s dividend payout ratio is currently 148.42%.

In other Delek Logistics Partners, L.P. news, major shareholder Delek Us Holdings, Inc. acquired 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $30.87 per share, for a total transaction of $37,044.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have purchased 32,760 shares of company stock valued at $1,014,607.

Hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in shares of Delek Logistics Partners, L.P. by 18.2% in the second quarter. California Public Employees Retirement System now owns 11,700 shares of the oil and gas producer’s stock valued at $383,000 after buying an additional 1,800 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Delek Logistics Partners, L.P. by 53.4% in the second quarter. GSA Capital Partners LLP now owns 27,765 shares of the oil and gas producer’s stock valued at $909,000 after buying an additional 9,665 shares in the last quarter. Arrow Investment Advisors LLC acquired a new stake in shares of Delek Logistics Partners, L.P. during the second quarter valued at $714,000. Wells Fargo & Company MN increased its stake in shares of Delek Logistics Partners, L.P. by 31.0% in the second quarter. Wells Fargo & Company MN now owns 24,929 shares of the oil and gas producer’s stock valued at $817,000 after buying an additional 5,900 shares in the last quarter. Finally, Homrich & Berg increased its stake in shares of Delek Logistics Partners, L.P. by 0.9% in the second quarter. Homrich & Berg now owns 45,717 shares of the oil and gas producer’s stock valued at $1,497,000 after buying an additional 426 shares in the last quarter. Institutional investors and hedge funds own 27.39% of the company’s stock.

Delek Logistics Partners, L.P. Company Profile

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.

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