Delek Logistics Partners, L.P. (DKL) Price Target Lowered to $32.00 at Barclays PLC

Delek Logistics Partners, L.P. (NYSE:DKL) had its target price trimmed by Barclays PLC from $33.00 to $32.00 in a report released on Friday morning. They currently have an equal weight rating on the oil and gas producer’s stock.

DKL has been the topic of several other reports. BidaskClub downgraded shares of Delek Logistics Partners, L.P. from a buy rating to a hold rating in a report on Friday, July 28th. Zacks Investment Research cut shares of Delek Logistics Partners, L.P. from a hold rating to a sell rating in a research report on Wednesday, October 4th. Scotiabank set a $33.00 target price on shares of Delek Logistics Partners, L.P. and gave the company a hold rating in a research report on Saturday, July 22nd. Finally, ValuEngine raised shares of Delek Logistics Partners, L.P. from a hold rating to a buy rating in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $32.50.

Delek Logistics Partners, L.P. (DKL) traded down $0.30 during trading hours on Friday, hitting $29.15. 24,300 shares of the company’s stock traded hands, compared to its average volume of 37,561. Delek Logistics Partners, L.P. has a 12-month low of $22.65 and a 12-month high of $36.05. The firm has a market capitalization of $732.07, a P/E ratio of 14.80, a P/E/G ratio of 2.78 and a beta of 1.29. The company has a debt-to-equity ratio of -15.58, a quick ratio of 0.92 and a current ratio of 1.19.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 9.81%. The ex-dividend date of this dividend is Monday, November 6th. This is a boost from Delek Logistics Partners, L.P.’s previous quarterly dividend of $0.71. Delek Logistics Partners, L.P.’s payout ratio is presently 143.72%.

In other Delek Logistics Partners, L.P. news, CEO Ezra Uzi Yemin bought 3,500 shares of Delek Logistics Partners, L.P. stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $29.00 per share, with a total value of $101,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several institutional investors have recently made changes to their positions in DKL. Parkside Financial Bank & Trust lifted its position in Delek Logistics Partners, L.P. by 0.5% during the second quarter. Parkside Financial Bank & Trust now owns 9,430 shares of the oil and gas producer’s stock worth $309,000 after purchasing an additional 45 shares during the period. 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 during the period. 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 during the period. Renaissance Technologies LLC increased its stake in shares of Delek Logistics Partners, L.P. by 11.5% in the first quarter. Renaissance Technologies LLC now owns 33,920 shares of the oil and gas producer’s stock valued at $1,130,000 after buying an additional 3,493 shares during the period. Finally, HITE Hedge Asset Management LLC increased its stake in shares of Delek Logistics Partners, L.P. by 1.2% in the second quarter. HITE Hedge Asset Management LLC now owns 321,792 shares of the oil and gas producer’s stock valued at $10,539,000 after buying an additional 3,765 shares during the period. 28.73% of the stock is owned by institutional investors.

About Delek Logistics Partners, L.P.

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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