Novem Group Purchases Shares of 16,682 Delek Logistics Partners, LP (NYSE:DKL)

Novem Group bought a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,682 shares of the oil and gas producer's stock, valued at approximately $705,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Trail Advisors LLC purchased a new position in shares of Delek Logistics Partners during the 4th quarter valued at approximately $482,000. Raymond James Financial Inc. acquired a new position in shares of Delek Logistics Partners during the fourth quarter worth $6,050,000. Strategic Financial Concepts LLC lifted its position in Delek Logistics Partners by 3,838.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer's stock worth $20,134,000 after acquiring an additional 464,343 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Delek Logistics Partners in the fourth quarter valued at about $621,000. Finally, LPL Financial LLC grew its holdings in Delek Logistics Partners by 35.3% during the fourth quarter. LPL Financial LLC now owns 44,447 shares of the oil and gas producer's stock worth $1,878,000 after acquiring an additional 11,599 shares during the period. Institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Stock Performance

Shares of DKL stock traded up $0.56 during trading hours on Tuesday, hitting $42.67. 43,748 shares of the company were exchanged, compared to its average volume of 162,308. The company has a 50 day simple moving average of $39.86 and a two-hundred day simple moving average of $40.82. Delek Logistics Partners, LP has a fifty-two week low of $34.59 and a fifty-two week high of $45.71. The firm has a market cap of $2.28 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.28 and a beta of 0.81.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 EPS for the quarter, hitting analysts' consensus estimates of $0.73. The company had revenue of $249.93 million for the quarter, compared to analysts' expectations of $237.17 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. As a group, sell-side analysts expect that Delek Logistics Partners, LP will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.44 dividend on an annualized basis and a yield of 10.41%. Delek Logistics Partners's dividend payout ratio is 148.49%.

Wall Street Analysts Forecast Growth

DKL has been the subject of a number of research reports. Wall Street Zen downgraded Delek Logistics Partners from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Raymond James boosted their target price on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $44.25.

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.