Alps Advisors Inc. raised its stake in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,316,269 shares of the oil and gas producer's stock after buying an additional 1,028,497 shares during the period. Delek Logistics Partners accounts for approximately 1.1% of Alps Advisors Inc.'s portfolio, making the stock its 14th biggest holding. Alps Advisors Inc. owned 8.04% of Delek Logistics Partners worth $186,722,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Sharpepoint LLC bought a new position in shares of Delek Logistics Partners in the first quarter worth about $1,408,000. Novem Group increased its stake in shares of Delek Logistics Partners by 24.1% in the first quarter. Novem Group now owns 20,700 shares of the oil and gas producer's stock worth $895,000 after purchasing an additional 4,018 shares during the period. Adams Asset Advisors LLC increased its stake in shares of Delek Logistics Partners by 11.8% in the first quarter. Adams Asset Advisors LLC now owns 67,293 shares of the oil and gas producer's stock worth $2,911,000 after purchasing an additional 7,106 shares during the period. GraniteShares Advisors LLC increased its stake in shares of Delek Logistics Partners by 6.5% in the first quarter. GraniteShares Advisors LLC now owns 62,369 shares of the oil and gas producer's stock worth $2,698,000 after purchasing an additional 3,780 shares during the period. Finally, Focus Financial Network Inc. increased its stake in shares of Delek Logistics Partners by 11.0% in 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 period. 11.75% of the stock is currently owned by institutional investors.
Delek Logistics Partners Stock Performance
DKL traded up $0.22 on Thursday, hitting $44.37. 44,111 shares of the stock traded hands, compared to its average volume of 163,867. Delek Logistics Partners, L.P. has a 52 week low of $34.59 and a 52 week high of $45.71. The company has a current ratio of 1.61, a quick ratio of 1.52 and a debt-to-equity ratio of 22.02. The firm has a market capitalization of $2.37 billion, a PE ratio of 14.84, a P/E/G ratio of 1.00 and a beta of 0.76. The business has a fifty day moving average price of $41.92 and a two-hundred day moving average price of $41.56.
Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. Delek Logistics Partners had a negative return on equity of 1,782.51% and a net margin of 15.88%. The firm had revenue of $249.93 million for the quarter, compared to analyst estimates of $237.17 million. On average, research analysts predict that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.
Delek Logistics Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 10.01%. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. The ex-dividend date was Thursday, May 8th. Delek Logistics Partners's payout ratio is presently 148.49%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on DKL shares. Wall Street Zen lowered Delek Logistics Partners from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Mizuho upgraded Delek Logistics Partners to a "hold" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $44.25.
Check Out Our Latest Report on Delek Logistics Partners
About Delek Logistics Partners
(
Free Report)
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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