Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Delek Logistics Partners, L.P. from a hold rating to a buy rating and set a $35.00 target price on the stock in a research report on Thursday, May 18th. BidaskClub raised Delek Logistics Partners, L.P. from a hold rating to a buy rating in a research report on Thursday, July 13th. Finally, Barclays PLC reaffirmed an equal weight rating and issued 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 company. The stock presently has an average rating of Hold and an average price target of $34.00.
Delek Logistics Partners, L.P. (NYSE DKL) traded up 2.21% during mid-day trading on Friday, reaching $30.00. The company’s stock had a trading volume of 22,599 shares. The firm has a 50-day moving average of $32.60 and a 200 day moving average of $31.86. The firm has a market capitalization of $730.83 million, a price-to-earnings ratio of 15.81 and a beta of 1.29. Delek Logistics Partners, L.P. has a 1-year low of $21.30 and a 1-year high of $36.05.
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The business also recently declared 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. The ex-dividend date was Wednesday, August 2nd. This represents a $2.82 dividend on an annualized basis and a yield of 9.40%. This is an increase from Delek Logistics Partners, L.P.’s previous quarterly dividend of $0.69. 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. bought 2,901 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was purchased at an average cost of $30.95 per share, for a total transaction of $89,785.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 23,960 shares of company stock valued at $738,908 over the last 90 days.
Several hedge funds and other institutional investors have recently made changes to their positions in DKL. HITE Hedge Asset Management LLC raised its position in shares of Delek Logistics Partners, L.P. by 10.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 237,341 shares of the oil and gas producer’s stock valued at $6,776,000 after buying an additional 22,600 shares in the last quarter. Franklin Square Holdings L.P. bought a new position in shares of Delek Logistics Partners, L.P. during the first quarter valued at about $769,000. Global Endowment Management LP bought a new position in shares of Delek Logistics Partners, L.P. during the first quarter valued at about $1,222,000. Taylor Wealth Management Partners raised its position in shares of Delek Logistics Partners, L.P. by 14.5% in the second quarter. Taylor Wealth Management Partners now owns 32,340 shares of the oil and gas producer’s stock valued at $1,059,000 after buying an additional 4,090 shares in the last quarter. Finally, Homrich & Berg increased its stake in shares of Delek Logistics Partners, L.P. by 3.1% in the first quarter. Homrich & Berg now owns 45,291 shares of the oil and gas producer’s stock worth $1,508,000 after buying an additional 1,359 shares during the last quarter. Institutional investors own 27.38% 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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