Strategic Financial Concepts LLC increased its position in Delek Logistics Partners, LP (NYSE:DKL – Free Report) by 3,838.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 476,439 shares of the oil and gas producer’s stock after acquiring an additional 464,343 shares during the quarter. Strategic Financial Concepts LLC owned about 0.93% of Delek Logistics Partners worth $20,134,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of DKL. Farther Finance Advisors LLC purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at $49,000. Sittner & Nelson LLC bought a new stake in Delek Logistics Partners during the third quarter valued at $109,000. Millburn Ridgefield Corp purchased a new position in Delek Logistics Partners during the third quarter worth about $131,000. Stifel Financial Corp bought a new position in Delek Logistics Partners in the 3rd quarter worth about $206,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Delek Logistics Partners in the 3rd quarter valued at about $211,000. Institutional investors own 11.75% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on DKL shares. StockNews.com cut shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James increased their price target on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Truist Financial lifted their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Bank of America began coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price on the stock. One investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.25.
Delek Logistics Partners Stock Performance
Shares of DKL opened at $41.98 on Friday. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $46.50. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.37 and a beta of 2.10. The firm has a 50 day moving average price of $41.84 and a 200-day moving average price of $40.91.
Delek Logistics Partners (NYSE:DKL – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.19). The business had revenue of $214.07 million during 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 period in the prior year, the firm earned $0.80 earnings per share. As a group, equities research analysts predict that Delek Logistics Partners, LP will post 3.01 earnings per share for the current year.
Delek Logistics Partners Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th will be given a dividend of $1.105 per share. This represents a $4.42 annualized dividend and a yield of 10.53%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, February 4th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 156.03%.
Insiders Place Their Bets
In other news, Chairman Ezra Uzi Yemin bought 710 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $38.72 per share, for a total transaction of $27,491.20. Following the completion of the acquisition, the chairman now owns 54,851 shares of the company’s stock, valued at approximately $2,123,830.72. This trade represents a 1.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased 4,835 shares of company stock valued at $192,184 in the last ninety days. Company insiders own 1.00% 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.
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