First Trust Advisors LP Raises Holdings in Delek Logistics Partners, LP (NYSE:DKL)

First Trust Advisors LP raised its holdings in Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,663 shares of the oil and gas producer's stock after purchasing an additional 6,684 shares during the period. First Trust Advisors LP owned about 0.28% of Delek Logistics Partners worth $5,987,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Delek Logistics Partners by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer's stock worth $10,678,000 after acquiring an additional 31,654 shares in the last quarter. Adams Asset Advisors LLC purchased a new stake in shares of Delek Logistics Partners during the fourth quarter worth about $2,544,000. Exchange Traded Concepts LLC raised its position in shares of Delek Logistics Partners by 24.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer's stock worth $771,000 after purchasing an additional 3,600 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Delek Logistics Partners during the 4th quarter worth about $1,690,000. Finally, Strategic Financial Concepts LLC lifted its stake in Delek Logistics Partners by 3,838.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer's stock valued at $20,134,000 after buying an additional 464,343 shares in the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

Delek Logistics Partners Price Performance

DKL traded up $0.83 on Friday, reaching $39.81. 95,933 shares of the company's stock were exchanged, compared to its average volume of 157,895. Delek Logistics Partners, LP has a twelve month low of $34.59 and a twelve month high of $45.71. The stock has a market cap of $2.14 billion, a PE ratio of 14.12, a P/E/G ratio of 1.28 and a beta of 0.81. The stock's fifty day moving average price is $40.32 and its 200-day moving average price is $40.65.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its 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). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The company had revenue of $209.86 million for the quarter, compared to analyst estimates of $240.05 million. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.44 dividend on an annualized basis and a dividend yield of 11.15%. Delek Logistics Partners's dividend payout ratio (DPR) is 148.49%.

Wall Street Analysts Forecast Growth

Separately, Raymond James increased their target price 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.