6,830 Shares in Delek Logistics Partners, L.P. $DKL Purchased by Independent Advisor Alliance

Key Points

• Independent Advisor Alliance has made a new investment of approximately $295,000 in Delek Logistics Partners, purchasing 6,830 shares during the first quarter.
• Delek Logistics Partners recently declared an increased quarterly dividend of $1.115 per share, reflecting a 10.3% dividend yield, up from the previous $1.11.
• The company's recent quarterly earnings showed an EPS of $0.83, exceeding analysts' expectations of $0.79 despite a revenue of $246.35 million, below the expected $289.07 million.

Independent Advisor Alliance acquired a new stake in Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,830 shares of the oil and gas producer's stock, valued at approximately $295,000.

Several other hedge funds have also modified their holdings of DKL. GeoWealth Management LLC acquired a new stake in Delek Logistics Partners in the fourth quarter valued at $206,000. MGO One Seven LLC acquired a new stake in Delek Logistics Partners in the fourth quarter valued at $206,000. Stifel Financial Corp raised its stake in Delek Logistics Partners by 7.5% in the fourth 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. HB Wealth Management LLC acquired a new stake in Delek Logistics Partners in the first quarter valued at $250,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in Delek Logistics Partners in the first quarter valued at $351,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Delek Logistics Partners Stock Performance

Shares of DKL stock traded down $0.0150 during mid-day trading on Tuesday, hitting $43.1350. 45,539 shares of the stock were exchanged, compared to its average volume of 155,858. The stock's fifty day simple moving average is $43.78 and its two-hundred day simple moving average is $41.80. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 14.62, a P/E/G 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 company has a debt-to-equity ratio of 69.13, a quick ratio of 0.89 and a current ratio of 0.93.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%.The firm had revenue of $246.35 million for the quarter, compared to analyst estimates of $289.07 million. On average, analysts forecast that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 8th were issued a dividend of $1.115 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend was Friday, August 8th. Delek Logistics Partners's dividend payout ratio is 151.19%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen cut Delek Logistics Partners from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Mizuho upgraded Delek Logistics Partners to a "hold" rating in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Delek Logistics Partners currently has a consensus 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.