Delek Logistics Partners, L.P. (NYSE:DKL) Shares Sold by ING Groep NV

Key Points

• ING Groep NV reduced its stake in Delek Logistics Partners by 11.7%, now holding 274,600 shares valued at approximately $11.88 million after selling 36,400 shares in the first quarter.
• Delek Logistics Partners announced a quarterly dividend increase to $1.115 per share, with an impressive yield of 10.0%, and a dividend payout ratio of 148.49%.
• Recent analyst ratings for Delek Logistics Partners show mixed reviews, with one firm downgrading the stock to "sell" while others have maintained or upgraded to a "hold" rating, resulting in a consensus rating of "Hold" and a target price of $44.25.

ING Groep NV lowered its holdings in Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,600 shares of the oil and gas producer's stock after selling 36,400 shares during the quarter. ING Groep NV owned 0.51% of Delek Logistics Partners worth $11,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new stake in shares of Delek Logistics Partners in the fourth quarter worth $206,000. MGO One Seven LLC acquired a new stake in shares of Delek Logistics Partners in the fourth quarter worth $206,000. Stifel Financial Corp increased its stake in shares of 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 worth $215,000 after acquiring an additional 355 shares during the period. HB Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners in the first quarter worth $250,000. Finally, Zuckerman Investment Group LLC acquired a new stake in shares of Delek Logistics Partners in the fourth quarter worth $263,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Analyst Ratings Changes

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

Delek Logistics Partners Price Performance

Shares of NYSE:DKL traded down $1.41 during midday trading on Friday, hitting $43.60. The company's stock had a trading volume of 160,145 shares, compared to its average volume of 88,823. 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 market cap of $2.33 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.01 and a beta of 0.69. The business's 50 day simple moving average is $43.71 and its 200 day simple moving average is $41.85. The company has a debt-to-equity ratio of 69.13, a quick ratio of 1.52 and a current ratio of 0.93.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. The firm had revenue of $246.35 million during the quarter, compared to analysts' expectations 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 8th will be given a dividend of $1.115 per share. The ex-dividend date is Friday, August 8th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 annualized dividend and a yield of 10.2%. Delek Logistics Partners's dividend payout ratio (DPR) is 148.49%.

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.