Delek Logistics Partners, L.P. $DKL Stake Raised by Alps Advisors Inc.

Key Points

• Alps Advisors increased its DKL stake 28.5% in the third quarter, adding 1.25 million shares to hold 5.63 million shares, valued at about $299.8 million.
• Delek Logistics reported quarterly EPS of $0.85, below the $0.97 consensus, while revenue of $372.4 million exceeded estimates. It raised its quarterly dividend to $1.14 per share, an annualized yield of about 8.8%.
• Company insiders bought 15,000 shares worth $750,000 over the past 90 days. Analysts’ average rating was “Hold,” with a consensus price target of $55.60.

Alps Advisors Inc. increased its position in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 28.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,634,862 shares of the oil and gas producer's stock after purchasing an additional 1,250,721 shares during the period. Delek Logistics Partners comprises about 1.3% of Alps Advisors Inc.'s investment portfolio, making the stock its 14th largest position. Alps Advisors Inc. owned about 9.85% of Delek Logistics Partners worth $299,831,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NEOS Investment Management LLC boosted its position in Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer's stock worth $8,935,000 after buying an additional 62,267 shares during the period. Pinnacle Holdings LLC purchased a new stake in Delek Logistics Partners in the 2nd quarter worth approximately $1,703,000. Gateway Wealth Partners LLC purchased a new stake in shares of Delek Logistics Partners in the first quarter valued at $222,000. HB Wealth Management LLC purchased a new stake in Delek Logistics Partners during the 1st quarter worth approximately $216,000. Finally, Commonwealth Equity Services LLC purchased a new stake in Delek Logistics Partners in the 3rd quarter worth $225,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, EVP Reuven Spiegel purchased 1,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the executive vice president owned 29,549 shares of the company's stock, valued at $1,477,450. The trade was a 3.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Avigal Soreq acquired 2,500 shares of the stock in a transaction dated Thursday, August 13th. The stock was acquired at an average price of $50.00 per share, with a total value of $125,000.00. Following the completion of the acquisition, the president owned 84,782 shares in the company, valued at approximately $4,239,100. The trade was a 3.04% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 15,000 shares of company stock valued at $750,000. 1.00% of the stock is currently owned by insiders.

Delek Logistics Partners Price Performance

Shares of DKL stock opened at $51.99 on Friday. The stock's 50 day simple moving average is $55.63 and its two-hundred day simple moving average is $53.41. Delek Logistics Partners, L.P. has a 1 year low of $42.82 and a 1 year high of $61.50. The company has a market cap of $2.97 billion, a PE ratio of 18.11 and a beta of 0.43.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings data on Friday, November 6th. The oil and gas producer reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.12). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The business had revenue of $372.44 million during the quarter, compared to analyst estimates of $355.44 million. Equities research analysts expect that Delek Logistics Partners, L.P. will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, November 3rd will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 8.8%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.1350. The ex-dividend date of this dividend is Tuesday, November 3rd. Delek Logistics Partners's dividend payout ratio (DPR) is currently 158.19%.

Analyst Ratings Changes

DKL has been the subject of several analyst reports. UBS Group increased their price target on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, September 21st. Weiss Ratings raised shares of Delek Logistics Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 2nd. Finally, Zacks Research downgraded shares of Delek Logistics Partners from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 22nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Delek Logistics Partners has an average rating of "Hold" and a consensus target price of $55.60.

Delek Logistics Partners Profile

Delek Logistics Partners, L.P. NYSE: DKL is a master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics' operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.

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