Delek Logistics Partners, L.P. $DKL Shares Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. lifted its holdings in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 9.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,752 shares of the oil and gas producer's stock after purchasing an additional 13,580 shares during the quarter. Raymond James Financial Inc. owned about 0.29% of Delek Logistics Partners worth $6,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in Delek Logistics Partners by 31.3% in the first quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer's stock valued at $186,722,000 after purchasing an additional 1,028,497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Delek Logistics Partners by 42.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 969,982 shares of the oil and gas producer's stock worth $40,991,000 after acquiring an additional 288,033 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Delek Logistics Partners by 187.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 273,220 shares of the oil and gas producer's stock worth $11,546,000 after acquiring an additional 178,324 shares during the last quarter. Sharpepoint LLC purchased a new stake in shares of Delek Logistics Partners during the first quarter worth about $1,408,000. Finally, Plan Group Financial LLC acquired a new position in Delek Logistics Partners in the first quarter worth about $1,090,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Delek Logistics Partners Stock Performance

DKL stock traded down $0.05 during midday trading on Friday, reaching $43.20. The company had a trading volume of 107,548 shares, compared to its average volume of 58,091. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 69.13. The stock has a 50 day moving average price of $43.89 and a 200 day moving average price of $41.95. Delek Logistics Partners, L.P. has a fifty-two week low of $34.59 and a fifty-two week high of $48.00. The firm has a market capitalization of $2.31 billion, a PE ratio of 14.64, a P/E/G ratio of 0.97 and a beta of 0.64.

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

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 8th were paid a $1.115 dividend. The ex-dividend date was Friday, August 8th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 dividend on an annualized basis and a yield of 10.3%. Delek Logistics Partners's payout ratio is presently 151.19%.

Insider Buying and Selling

In other Delek Logistics Partners news, Director Charles J. Brown III sold 1,134 shares of Delek Logistics Partners stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $42.91, for a total value of $48,659.94. Following the completion of the transaction, the director directly owned 17,971 shares in the company, valued at $771,135.61. The trade was a 5.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 1,884 shares of company stock valued at $82,410 in the last three months. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Mizuho lifted their price target on Delek Logistics Partners from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.