Abel Hall LLC Purchases New Holdings in Delek Logistics Partners, L.P. $DKL

Key Points

• Abel Hall LLC acquired a new stake in Delek Logistics Partners, purchasing 10,000 shares valued at approximately $430,000 during the second quarter.
• Delek Logistics Partners recently increased its quarterly dividend to $1.115 per share, reflecting a 9.9% dividend yield.
• The company's latest earnings report showed a net margin of 16.58% and earnings per share (EPS) of $0.83, surpassing analyst expectations of $0.79.

Abel Hall LLC purchased a new stake in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,000 shares of the oil and gas producer's stock, valued at approximately $430,000.

Several other hedge funds also recently added to or reduced their stakes in DKL. Focus Financial Network Inc. grew its holdings in Delek Logistics Partners by 11.0% during the 1st quarter. Focus Financial Network Inc. now owns 11,276 shares of the oil and gas producer's stock valued at $488,000 after purchasing an additional 1,116 shares during the last quarter. GraniteShares Advisors LLC boosted its position in Delek Logistics Partners by 6.5% in the 1st quarter. GraniteShares Advisors LLC now owns 62,369 shares of the oil and gas producer's stock valued at $2,698,000 after buying an additional 3,780 shares during the period. Adams Asset Advisors LLC boosted its position in Delek Logistics Partners by 11.8% in the 1st quarter. Adams Asset Advisors LLC now owns 67,293 shares of the oil and gas producer's stock valued at $2,911,000 after buying an additional 7,106 shares during the period. Novem Group boosted its position in Delek Logistics Partners by 24.1% in the 1st quarter. Novem Group now owns 20,700 shares of the oil and gas producer's stock valued at $895,000 after buying an additional 4,018 shares during the period. Finally, Sharpepoint LLC purchased a new stake in Delek Logistics Partners in the 1st quarter valued at about $1,408,000. 11.75% of the stock is currently owned by institutional investors.

Delek Logistics Partners Price Performance

NYSE DKL opened at $44.95 on Wednesday. The company has a debt-to-equity ratio of 69.13, a quick ratio of 0.89 and a current ratio of 0.93. The firm's 50 day moving average price is $44.34 and its 200-day moving average price is $42.48. Delek Logistics Partners, L.P. has a 52-week low of $34.59 and a 52-week high of $48.00. The company has a market cap of $2.40 billion, a PE ratio of 15.24, a P/E/G ratio of 1.01 and a beta of 0.59.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. The firm had revenue of $246.35 million for the quarter, compared to the consensus estimate of $289.07 million. Sell-side analysts forecast that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were paid a dividend of $1.115 per share. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date was Friday, August 8th. Delek Logistics Partners's payout ratio is 151.19%.

Insider Activity

In other news, Director Charles J. Brown III sold 1,134 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $42.91, for a total transaction of $48,659.94. Following the transaction, the director directly owned 17,971 shares in the company, valued at approximately $771,135.61. This trade represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,134 shares of company stock worth $93,660 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on DKL. Weiss Ratings reissued a "hold (c+)" rating on shares of Delek Logistics Partners in a research report on Saturday, September 27th. Mizuho boosted their price objective on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $44.25.

Delek Logistics Partners Company 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.

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