Westwood Holdings Group Inc. Has $9.47 Million Stake in Delek Logistics Partners, L.P. (NYSE:DKL)

Key Points

• Westwood Holdings Group Inc. has decreased its holdings in Delek Logistics Partners by 19.9%, selling 54,317 shares and reducing its ownership to 0.41% of the company.
• Delek Logistics Partners recently announced an increase in their quarterly dividend to $1.115 per share, providing an annualized payout of $4.46 and a dividend yield of 10.2%.
• The company's stock decreased by 2.6% and currently has a market capitalization of $2.34 billion, with recent earnings showing a net margin of 15.88%.

Westwood Holdings Group Inc. lessened its holdings in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 218,903 shares of the oil and gas producer's stock after selling 54,317 shares during the quarter. Westwood Holdings Group Inc. owned 0.41% of Delek Logistics Partners worth $9,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. LPL Financial LLC boosted its position in Delek Logistics Partners by 35.3% during the 4th quarter. LPL Financial LLC now owns 44,447 shares of the oil and gas producer's stock valued at $1,878,000 after purchasing an additional 11,599 shares during the period. Wells Fargo & Company MN lifted its stake in Delek Logistics Partners by 4.2% during the fourth quarter. Wells Fargo & Company MN now owns 30,338 shares of the oil and gas producer's stock valued at $1,282,000 after purchasing an additional 1,223 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Delek Logistics Partners in the 4th quarter worth $17,819,000. Raymond James Financial Inc. purchased a new position in Delek Logistics Partners in the 4th quarter worth about $6,050,000. Finally, Zuckerman Investment Group LLC purchased a new stake in shares of Delek Logistics Partners in the 4th quarter valued at approximately $263,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners Stock Performance

DKL stock traded down $1.22 on Monday, reaching $42.25. 38,386 shares of the company were exchanged, compared to its average volume of 159,103. The firm has a market capitalization of $2.26 billion, a PE ratio of 14.32, a PEG ratio of 0.98 and a beta of 0.69. Delek Logistics Partners, L.P. has a 12 month low of $34.59 and a 12 month high of $48.00. The stock's fifty day moving average price is $43.71 and its 200 day moving average price is $41.82. The company has a debt-to-equity ratio of 69.13, a current ratio of 0.93 and a quick ratio of 0.89.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $246.35 million for the quarter, compared to analyst estimates of $289.07 million. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. On average, research analysts anticipate 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 will be paid on Thursday, August 14th. Shareholders of record on Friday, August 8th will be issued a dividend of $1.115 per share. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change 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 10.6%. Delek Logistics Partners's dividend payout ratio (DPR) is presently 151.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Mizuho upgraded Delek Logistics Partners to a "hold" rating in a research report on Thursday, June 26th. Wall Street Zen cut shares of Delek Logistics Partners from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $44.25.

Delek Logistics Partners Company 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.