Plan Group Financial LLC Buys Shares of 25,200 Delek Logistics Partners, L.P. (NYSE:DKL)

Key Points

• Plan Group Financial LLC acquired 25,200 shares of Delek Logistics Partners, valued at approximately $1,090,000, indicating growing institutional interest in the company.
• Delek Logistics Partners recently declared a quarterly dividend of $1.115, representing an annual yield of 10.0%, reflecting a strong commitment to returning value to shareholders despite a high payout ratio of 148.49%.
• Analyst ratings for DKL show a mix of opinions, with two sell ratings, one hold rating, and three buy ratings, leading to a consensus rating of "Hold" with an average price target of $44.25.

Plan Group Financial LLC purchased a new stake in Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,200 shares of the oil and gas producer's stock, valued at approximately $1,090,000.

Several other institutional investors have also bought and sold shares of the stock. Alps Advisors Inc. boosted its stake in Delek Logistics Partners by 31.3% in 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 in the last quarter. Bank of Montreal Can bought a new stake in shares of Delek Logistics Partners during the fourth quarter worth $17,819,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Delek Logistics Partners by 42.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 969,982 shares of the oil and gas producer's stock worth $40,991,000 after acquiring an additional 288,033 shares during the last quarter. Cohen & Steers Inc. bought a new stake in shares of Delek Logistics Partners during the fourth quarter worth $11,805,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Delek Logistics Partners by 187.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 273,220 shares of the oil and gas producer's stock worth $11,546,000 after acquiring an additional 178,324 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company's stock.

Delek Logistics Partners Trading Down 3.1%

NYSE DKL traded down $1.41 on Friday, reaching $43.60. The company had a trading volume of 160,145 shares, compared to its average volume of 88,823. The stock's 50 day moving average is $43.71 and its 200-day moving average is $41.85. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.01 and a beta of 0.69. The company has a quick ratio of 1.52, a current ratio of 0.93 and a debt-to-equity ratio of 69.13. Delek Logistics Partners, L.P. has a 52 week low of $34.59 and a 52 week high of $48.00.

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 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The business had revenue of $246.35 million during the quarter, compared to the consensus estimate of $289.07 million. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. Equities analysts predict that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 8th will be paid a $1.115 dividend. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 dividend on an annualized basis and a yield of 10.2%. Delek Logistics Partners's payout ratio is presently 148.49%.

Analyst Ratings Changes

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

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.