Wealthfront Advisers LLC Takes Position in Delek Logistics Partners, LP (NYSE:DKL)

Wealthfront Advisers LLC bought a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,812 shares of the oil and gas producer’s stock, valued at approximately $506,000.

A number of other institutional investors have also recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new position in shares of Delek Logistics Partners during the 4th quarter worth $64,000. Millburn Ridgefield Corp acquired a new position in shares of Delek Logistics Partners during the 3rd quarter worth $131,000. Van ECK Associates Corp raised its holdings in shares of Delek Logistics Partners by 74.6% during the 4th quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock worth $205,000 after buying an additional 2,074 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Delek Logistics Partners during the 3rd quarter worth $206,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Delek Logistics Partners during the 3rd quarter worth $281,000. 11.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DKL. Truist Financial boosted their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Raymond James boosted their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and a consensus price target of $44.25.

Delek Logistics Partners Stock Up 1.8 %

Shares of DKL opened at $41.67 on Monday. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $45.71. The business has a 50-day simple moving average of $42.32 and a two-hundred day simple moving average of $41.21. The stock has a market cap of $2.24 billion, a PE ratio of 14.78, a PEG ratio of 1.28 and a beta of 2.01.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The firm had revenue of $209.86 million during the quarter, compared to analyst estimates of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. On average, equities research analysts expect that Delek Logistics Partners, LP will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were paid a $1.105 dividend. 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. This represents a $4.42 annualized dividend and a dividend yield of 10.61%. Delek Logistics Partners’s dividend payout ratio is presently 147.83%.

Delek Logistics Partners Profile

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.