GSA Capital Partners LLP Purchases New Position in Delek Logistics Partners, L.P. $DKL

Key Points

• GSA Capital Partners disclosed a new fourth-quarter position in Delek Logistics Partners, buying 23,628 shares valued at about $1.05 million.
• Institutional interest in DKL remains active, with several funds increasing or initiating stakes; however, only 11.75% of the stock is currently owned by hedge funds and other institutional investors.
• Delek Logistics Partners reported Q1 earnings of $0.60 per share, below the $0.80 estimate, but revenue came in above expectations at $297.47 million. The company also maintained a quarterly dividend of $1.13 per share, implying an annualized yield of 8.7%.

GSA Capital Partners LLP purchased a new stake in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 23,628 shares of the oil and gas producer's stock, valued at approximately $1,054,000.

A number of other institutional investors also recently modified their holdings of the business. Sharpepoint LLC lifted its stake in shares of Delek Logistics Partners by 1.4% during the 3rd quarter. Sharpepoint LLC now owns 37,868 shares of the oil and gas producer's stock valued at $1,725,000 after buying an additional 506 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of 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 valued at $52,000 after buying an additional 910 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Delek Logistics Partners by 8.0% during the 3rd quarter. Private Advisor Group LLC now owns 13,537 shares of the oil and gas producer's stock valued at $616,000 after buying an additional 1,000 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at approximately $50,000. Finally, American Financial Group Inc. lifted its stake in shares of Delek Logistics Partners by 10.0% during the 3rd quarter. American Financial Group Inc. now owns 16,500 shares of the oil and gas producer's stock valued at $751,000 after buying an additional 1,500 shares in the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DKL shares. Zacks Research cut shares of Delek Logistics Partners from a "hold" rating to a "strong sell" rating in a research note on Friday, January 23rd. Truist Financial started coverage on shares of Delek Logistics Partners in a research note on Tuesday, March 24th. They issued a "hold" rating and a $57.00 target price on the stock. Citigroup reiterated a "neutral" rating and issued a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Mizuho increased their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 21st. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $60.00 target price on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Delek Logistics Partners has an average rating of "Hold" and an average target price of $55.25.

Delek Logistics Partners Stock Performance

NYSE DKL opened at $51.74 on Friday. Delek Logistics Partners, L.P. has a 1 year low of $40.10 and a 1 year high of $55.89. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92. The stock has a market capitalization of $2.75 billion, a PE ratio of 16.37, a P/E/G ratio of 0.60 and a beta of 0.50. The company's 50 day simple moving average is $51.33 and its two-hundred day simple moving average is $49.29.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.20). The company had revenue of $297.47 million during the quarter, compared to the consensus estimate of $239.87 million. Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%. Analysts predict that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.13. Delek Logistics Partners's payout ratio is currently 143.04%.

Delek Logistics Partners Profile

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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