Alps Advisors Inc. Increases Position in Delek Logistics Partners, L.P. (NYSE:DKL)

Alps Advisors Inc. raised its holdings in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 31.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,316,269 shares of the oil and gas producer's stock after purchasing an additional 1,028,497 shares during the quarter. Delek Logistics Partners accounts for approximately 1.1% of Alps Advisors Inc.'s portfolio, making the stock its 14th largest position. Alps Advisors Inc. owned about 8.04% of Delek Logistics Partners worth $186,722,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sharpepoint LLC purchased a new position in shares of Delek Logistics Partners during the first quarter valued at approximately $1,408,000. Novem Group boosted its holdings in Delek Logistics Partners by 24.1% during the 1st quarter. Novem Group now owns 20,700 shares of the oil and gas producer's stock worth $895,000 after acquiring an additional 4,018 shares during the last quarter. Adams Asset Advisors LLC grew its stake in shares of 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 worth $2,911,000 after acquiring an additional 7,106 shares in the last quarter. GraniteShares Advisors LLC lifted its position in shares of Delek Logistics Partners by 6.5% during the first quarter. GraniteShares Advisors LLC now owns 62,369 shares of the oil and gas producer's stock valued at $2,698,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its holdings in Delek Logistics Partners by 11.0% during the first quarter. Focus Financial Network Inc. now owns 11,276 shares of the oil and gas producer's stock worth $488,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Mizuho upgraded shares of Delek Logistics Partners to a "hold" rating in a research note on Thursday, June 26th. Wall Street Zen downgraded Delek Logistics Partners from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $44.25.

Delek Logistics Partners Stock Performance

DKL stock traded up $0.13 during mid-day trading on Friday, hitting $44.40. The company had a trading volume of 42,675 shares, compared to its average volume of 164,361. The stock's fifty day moving average price is $42.13 and its two-hundred day moving average price is $41.62. Delek Logistics Partners, L.P. has a 12 month low of $34.59 and a 12 month high of $45.71. The firm has a market cap of $2.37 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. The company has a debt-to-equity ratio of 22.02, a quick ratio of 1.52 and a current ratio of 1.61.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share for the quarter, meeting analysts' consensus estimates of $0.73. Delek Logistics Partners had a net margin of 15.88% and a negative return on equity of 1,782.51%. The business had revenue of $249.93 million during the quarter, compared to analyst estimates of $237.17 million. On average, analysts forecast that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $4.44 annualized dividend and a dividend yield of 10.00%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.11. Delek Logistics Partners's dividend payout ratio is presently 148.49%.

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.