Delek Logistics Partners, LP (NYSE:DKL) Stock Holdings Increased by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in Delek Logistics Partners, LP (NYSE:DKL) by 74.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,854 shares of the oil and gas producer’s stock after purchasing an additional 2,074 shares during the quarter. Van ECK Associates Corp’s holdings in Delek Logistics Partners were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DKL. Foundations Investment Advisors LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $211,000. Farther Finance Advisors LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $49,000. Indie Asset Partners LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $306,000. Sittner & Nelson LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $109,000. Finally, Lindbrook Capital LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $219,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the stock in a transaction on Monday, December 16th. The shares were bought at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the acquisition, the chairman now directly owns 162,217 shares in the company, valued at approximately $6,480,569.15. This trade represents a 2.37 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Delek Logistics Partners Stock Performance

Shares of DKL opened at $39.96 on Monday. The firm has a market cap of $2.06 billion, a PE ratio of 14.17, a PEG ratio of 1.28 and a beta of 2.10. The firm’s 50 day moving average price is $42.24 and its 200 day moving average price is $40.95. Delek Logistics Partners, LP has a twelve month low of $37.02 and a twelve month high of $46.50.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. This represents a $4.42 annualized dividend and a yield of 11.06%. The ex-dividend date was Tuesday, February 4th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.74%.

Wall Street Analyst Weigh In

DKL has been the subject of a number of research analyst reports. StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James raised their price objective on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Truist Financial raised their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.25.

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.