Wells Fargo & Company MN Increases Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL)

Wells Fargo & Company MN increased its holdings in Delek Logistics Partners, LP (NYSE:DKL) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 30,338 shares of the oil and gas producer’s stock after purchasing an additional 1,223 shares during the period. Wells Fargo & Company MN’s holdings in Delek Logistics Partners were worth $1,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DKL. Focus Financial Network Inc. raised its holdings in Delek Logistics Partners by 5.6% in the fourth quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer’s stock valued at $429,000 after buying an additional 542 shares during the period. Apollon Wealth Management LLC raised its holdings in Delek Logistics Partners by 19.1% in the fourth quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 1,223 shares during the period. Venturi Wealth Management LLC purchased a new position in Delek Logistics Partners in the fourth quarter valued at approximately $64,000. American Financial Group Inc. raised its holdings in Delek Logistics Partners by 20.0% in the fourth quarter. American Financial Group Inc. now owns 12,000 shares of the oil and gas producer’s stock valued at $507,000 after buying an additional 2,000 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Delek Logistics Partners by 74.6% in the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 2,074 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Up 2.3 %

DKL opened at $39.66 on Tuesday. The firm has a market capitalization of $2.13 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.28 and a beta of 1.62. The firm’s 50 day moving average is $40.39 and its 200-day moving average is $40.65. Delek Logistics Partners, LP has a 52-week low of $34.59 and a 52-week high of $45.71.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $240.05 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. Equities analysts expect that Delek Logistics Partners, LP will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 11.20%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.11. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 147.83%.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised their price target on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus price target of $44.25.

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.