Delek Logistics Partners (NYSE:DKL) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $41.16 and traded as high as $41.95. Delek Logistics Partners shares last traded at $40.99, with a volume of 136,674 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DKL shares. Truist Financial lifted their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a report on Monday, November 18th. Raymond James upped their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $44.25.

Delek Logistics Partners Price Performance

The company's 50 day simple moving average is $42.32 and its two-hundred day simple moving average is $41.21. The company has a market cap of $2.29 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.28 and a beta of 2.01.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). 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. Sell-side analysts expect that Delek Logistics Partners, LP will post 3.01 EPS for the current fiscal year.

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Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a $1.105 dividend. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.36%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Tuesday, February 4th. Delek Logistics Partners's payout ratio is presently 147.83%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its stake in Delek Logistics Partners by 7.5% in the 4th quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer's stock worth $215,000 after buying an additional 355 shares during the last quarter. Focus Financial Network Inc. raised its stake in Delek Logistics Partners by 5.6% during the fourth quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer's stock worth $429,000 after purchasing an additional 542 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Delek Logistics Partners by 19.1% in the 4th quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer's stock valued at $323,000 after purchasing an additional 1,223 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Delek Logistics Partners by 4.2% during the 4th quarter. Wells Fargo & Company MN now owns 30,338 shares of the oil and gas producer's stock valued at $1,282,000 after buying an additional 1,223 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Delek Logistics Partners during the fourth quarter valued at about $64,000. Hedge funds and other institutional investors own 11.75% of the company's stock.

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.