HB Wealth Management LLC Takes $250,000 Position in Delek Logistics Partners, L.P. (NYSE:DKL)

Key Points

• HB Wealth Management LLC has acquired a new $250,000 stake in Delek Logistics Partners, L.P., buying 5,769 shares from the oil and gas producer.
• Delek Logistics Partners recently announced a quarterly dividend increase to $1.115, resulting in a yield of 10.1%, reflecting its commitment to returning value to shareholders.
• Despite a recent earnings meeting that matched estimates, analysts expressed caution, with ratings ranging from sell to buy, resulting in an average rating of "Hold."

HB Wealth Management LLC acquired a new stake in Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,769 shares of the oil and gas producer's stock, valued at approximately $250,000.

Other hedge funds also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at $206,000. MGO One Seven LLC acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at $206,000. Stifel Financial Corp raised its stake in shares of Delek Logistics Partners by 7.5% in the 4th quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer's stock valued at $215,000 after buying an additional 355 shares in the last quarter. Zuckerman Investment Group LLC acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at $263,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Delek Logistics Partners in the 1st quarter valued at $351,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Delek Logistics Partners Trading Down 4.1%

Shares of Delek Logistics Partners stock opened at $44.20 on Friday. The stock has a market capitalization of $2.36 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.00 and a beta of 0.69. 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 50-day simple moving average of $43.45 and a 200 day simple moving average of $41.85. Delek Logistics Partners, L.P. has a 12-month low of $34.59 and a 12-month high of $48.00.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.73. The business had revenue of $249.93 million during the quarter, compared to analysts' expectations of $237.17 million. Delek Logistics Partners had a net margin of 15.88% and a negative return on equity of 1,782.51%. Research analysts expect that Delek Logistics Partners, L.P. will post 3.01 earnings per share 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 given a $1.115 dividend. This represents a $4.46 annualized dividend and a yield of 10.1%. The ex-dividend date is Friday, August 8th. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.11. Delek Logistics Partners's dividend payout ratio is 148.49%.

Wall Street Analysts Forecast Growth

DKL has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Delek Logistics Partners from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Mizuho upgraded shares of Delek Logistics Partners to a "hold" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.

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