Bank of Montreal Can Invests $17.82 Million in Delek Logistics Partners, LP (NYSE:DKL)

Bank of Montreal Can acquired a new position in Delek Logistics Partners, LP (NYSE:DKL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 421,653 shares of the oil and gas producer's stock, valued at approximately $17,819,000. Bank of Montreal Can owned about 0.82% of Delek Logistics Partners at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Stifel Financial Corp purchased a new position in Delek Logistics Partners during the 3rd quarter valued at $206,000. JPMorgan Chase & Co. grew its holdings in shares of Delek Logistics Partners by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer's stock worth $10,678,000 after purchasing an additional 31,654 shares during the last quarter. Adams Asset Advisors LLC purchased a new position in Delek Logistics Partners in the 4th quarter worth about $2,544,000. Exchange Traded Concepts LLC boosted its position in Delek Logistics Partners by 24.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer's stock valued at $771,000 after buying an additional 3,600 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Delek Logistics Partners in the 4th quarter worth about $1,690,000. Hedge funds and other institutional investors own 11.75% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Raymond James boosted their price target on 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 issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $44.25.

Delek Logistics Partners Stock Performance

NYSE:DKL traded up $0.78 during midday trading on Thursday, reaching $37.30. 57,100 shares of the stock traded hands, compared to its average volume of 153,585. The business has a 50-day moving average of $40.99 and a two-hundred day moving average of $40.96. Delek Logistics Partners, LP has a 12-month low of $34.59 and a 12-month high of $45.71. The stock has a market capitalization of $2.00 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.06). The business 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%. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were paid a dividend of $1.105 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a dividend yield of 11.85%. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.10. Delek Logistics Partners's dividend payout ratio (DPR) is presently 147.83%.

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.