Delek Logistics Partners, L.P. (NYSE:DKL) Shares Sold by Castellan Group

Key Points

• Castellan Group reduced its stake in Delek Logistics Partners by 14.4%, resulting in ownership of 70,286 shares valued at approximately $3,041,000.
• Delek Logistics Partners declared a quarterly dividend of $1.115, representing an increase from the previous $1.11 and a dividend yield of 9.7%.
• The company's stock received mixed ratings, with one analyst downgrading it to a "sell" while others maintained a "hold" or "buy" status, ultimately resulting in an average rating of "Hold" and a consensus price target of $44.25.

Castellan Group lowered its stake in Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,286 shares of the oil and gas producer's stock after selling 11,856 shares during the period. Castellan Group owned 0.13% of Delek Logistics Partners worth $3,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in Delek Logistics Partners by 31.3% in the 1st quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer's stock worth $186,722,000 after buying an additional 1,028,497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Delek Logistics Partners by 42.2% in 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 period. Bank of Montreal Can acquired a new stake in shares of Delek Logistics Partners in the fourth quarter worth $17,819,000. Clearbridge Investments LLC raised its holdings in shares of Delek Logistics Partners by 50.8% during the fourth quarter. Clearbridge Investments LLC now owns 296,718 shares of the oil and gas producer's stock worth $12,539,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Cohen & Steers Inc. acquired a new position in Delek Logistics Partners during the fourth quarter valued at $11,805,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DKL has been the topic of several analyst reports. Mizuho raised Delek Logistics Partners to a "hold" rating in a research report on Thursday, June 26th. Wall Street Zen downgraded Delek Logistics Partners from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $44.25.

Delek Logistics Partners Price Performance

Shares of DKL stock traded down $1.91 during mid-day trading on Friday, hitting $44.20. 201,551 shares of the stock were exchanged, compared to its average volume of 61,196. Delek Logistics Partners, L.P. has a 52-week low of $34.59 and a 52-week high of $48.00. The company has a quick ratio of 1.52, a current ratio of 1.61 and a debt-to-equity ratio of 22.02. The company has a market cap of $2.36 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.04 and a beta of 0.69. The firm has a fifty day moving average of $43.40 and a 200 day moving average of $41.86.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share for the quarter, hitting analysts' consensus estimates of $0.73. Delek Logistics Partners had a negative return on equity of 1,782.51% and a net margin of 15.88%. The company had revenue of $249.93 million during the quarter, compared to analysts' expectations of $237.17 million. Research 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 8th will be given a dividend of $1.115 per share. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. The ex-dividend date is Friday, August 8th. This represents a $4.46 dividend on an annualized basis and a dividend yield of 10.1%. Delek Logistics Partners's payout ratio is 148.49%.

About Delek Logistics Partners

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.