Delek Logistics Partners (NYSE:DKL) Given New $50.00 Price Target at Truist Financial

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

Several other equities analysts have also recently weighed in on DKL. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $45.00 in a report on Wednesday, August 28th. Bank of America began coverage on Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price on the stock. Finally, StockNews.com cut shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.00.

Delek Logistics Partners Stock Up 0.4 %

Shares of DKL stock opened at $39.63 on Monday. Delek Logistics Partners has a 12-month low of $37.02 and a 12-month high of $53.80. The firm has a fifty day moving average of $40.70 and a 200-day moving average of $40.20. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.12 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The firm had revenue of $214.07 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.80 EPS. On average, equities analysts expect that Delek Logistics Partners will post 3.08 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 11.10%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. Delek Logistics Partners’s payout ratio is presently 156.03%.

Insiders Place Their Bets

In other Delek Logistics Partners news, EVP Joseph Israel bought 3,076 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, for a total transaction of $119,964.00. Following the completion of the purchase, the executive vice president now directly owns 13,782 shares of the company’s stock, valued at approximately $537,498. This trade represents a 28.73 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Avigal Soreq purchased 2,563 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was acquired at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the purchase, the president now owns 46,758 shares in the company, valued at approximately $1,823,562. The trade was a 5.80 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,759 shares of company stock worth $302,402 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in shares of Delek Logistics Partners in the 3rd quarter valued at approximately $49,000. Future Financial Wealth Managment LLC acquired a new stake in Delek Logistics Partners in the third quarter valued at approximately $70,000. Sittner & Nelson LLC bought a new stake in shares of Delek Logistics Partners during the third quarter worth $109,000. Millburn Ridgefield Corp acquired a new position in shares of Delek Logistics Partners during the third quarter worth $131,000. Finally, Van ECK Associates Corp increased its holdings in shares of Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after buying an additional 1,437 shares in the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

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.