Delek Logistics Partners, L.P. $DKL Holdings Boosted by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its DKL position by 56% in the second quarter, bringing its holdings to 173,361 shares valued at approximately $8.9 million. Institutional investors collectively own 11.75% of the partnership.
• Delek Logistics Partners insiders purchased 15,000 shares worth $750,000 in the latest quarter, while the partnership raised its quarterly dividend to $1.135 per share, equivalent to an 8.2% annualized yield.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $55.40. DKL recently reported quarterly EPS of $0.54, below the $0.93 consensus estimate, despite revenue exceeding expectations.

NEOS Investment Management LLC raised its position in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 56.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,361 shares of the oil and gas producer's stock after purchasing an additional 62,267 shares during the quarter. NEOS Investment Management LLC owned 0.33% of Delek Logistics Partners worth $8,935,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DKL. BNP Paribas Financial Markets purchased a new position in shares of Delek Logistics Partners during the second quarter valued at $50,000. Jones Financial Companies Lllp boosted its position in Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer's stock worth $52,000 after acquiring an additional 910 shares during the period. State of Wyoming acquired a new stake in Delek Logistics Partners during the 1st quarter worth about $67,000. Osaic Holdings Inc. grew its stake in Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer's stock valued at $115,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Delek Logistics Partners by 1,186.5% during the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer's stock valued at $180,000 after acquiring an additional 3,868 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company's stock.

Insider Buying and Selling

In other Delek Logistics Partners news, EVP Reuven Spiegel bought 1,000 shares of the stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, with a total value of $50,000.00. Following the acquisition, the executive vice president directly owned 29,549 shares of the company's stock, valued at $1,477,450. This represents a 3.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Hobbs purchased 4,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $50.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the executive vice president owned 24,125 shares in the company, valued at approximately $1,206,250. This trade represents a 19.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 15,000 shares of company stock valued at $750,000 in the last quarter. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings cut shares of Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. UBS Group assumed coverage on shares of Delek Logistics Partners in a research note on Thursday, July 16th. They issued a "neutral" rating and a $56.00 price objective on the stock. Finally, Zacks Research upgraded shares of Delek Logistics Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $55.40.

Delek Logistics Partners Stock Up 0.6%

Shares of Delek Logistics Partners stock opened at $55.62 on Friday. Delek Logistics Partners, L.P. has a 12-month low of $42.35 and a 12-month high of $61.50. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The stock has a 50 day moving average price of $55.41 and a two-hundred day moving average price of $52.93. The stock has a market capitalization of $3.18 billion, a P/E ratio of 19.38 and a beta of 0.44.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.39). The firm had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. Equities analysts expect that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $1.135 dividend. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend was Monday, August 3rd. Delek Logistics Partners's dividend payout ratio (DPR) is 158.19%.

About Delek Logistics Partners

Delek Logistics Partners L.P. NYSE: DKL is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership's core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.

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