MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 254,213 Shares of Delek Logistics Partners, L.P. $DKL

Key Points

• MIRAE Asset Global ETFs Holdings Ltd. increased its holdings in Delek Logistics Partners, L.P. by 26.2% during the first quarter, owning approximately $52.96 million in stock after purchasing an additional 254,213 shares.
• Delek Logistics Partners announced a quarterly dividend increase to $1.115, representing a yield of 10.3% and a notable payout ratio of 151.19%.
• Mizuho analysts raised their price target for Delek Logistics Partners from $44.00 to $45.00, maintaining a "neutral" rating, while the consensus rating remains a "Hold."

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 26.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,224,195 shares of the oil and gas producer's stock after acquiring an additional 254,213 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.28% of Delek Logistics Partners worth $52,959,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DKL. Alps Advisors Inc. lifted its stake in Delek Logistics Partners by 31.3% during the first quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer's stock worth $186,722,000 after purchasing an additional 1,028,497 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Delek Logistics Partners by 187.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 273,220 shares of the oil and gas producer's stock worth $11,546,000 after purchasing an additional 178,324 shares in the last quarter. Sharpepoint LLC bought a new stake in shares of Delek Logistics Partners during the first quarter valued at approximately $1,408,000. Plan Group Financial LLC bought a new stake in Delek Logistics Partners in the 1st quarter worth about $1,090,000. Finally, Novem Group bought a new position in Delek Logistics Partners in the fourth quarter valued at about $705,000. Institutional investors own 11.75% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Mizuho boosted their target price on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Delek Logistics Partners has a consensus rating of "Hold" and an average target price of $44.25.

Delek Logistics Partners Trading Up 0.8%

DKL stock traded up $0.34 on Thursday, hitting $44.33. 18,266 shares of the company were exchanged, compared to its average volume of 147,059. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.98 and a beta of 0.64. The business's fifty day moving average is $43.93 and its two-hundred day moving average is $42.01. 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, L.P. has a twelve month low of $34.59 and a twelve month high of $48.00.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $289.07 million. As a group, research analysts forecast that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were issued a $1.115 dividend. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. The ex-dividend date of this dividend was Friday, August 8th. This represents a $4.46 annualized dividend and a dividend yield of 10.1%. Delek Logistics Partners's dividend payout ratio (DPR) is presently 151.19%.

Insider Buying and Selling

In other Delek Logistics Partners news, Director Charles J. Brown III sold 1,134 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $42.91, for a total transaction of $48,659.94. Following the completion of the sale, the director owned 17,971 shares of the company's stock, valued at $771,135.61. This trade represents a 5.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,884 shares of company stock worth $82,410 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

About Delek Logistics Partners

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.