Plan Group Financial LLC Invests $1.09 Million in 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 bought a new position in shares of Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,200 shares of the oil and gas producer's stock, valued at approximately $1,090,000.

A number of other institutional investors also recently modified their holdings of DKL. LPL Financial LLC lifted its stake in shares of Delek Logistics Partners by 35.3% in the 4th quarter. LPL Financial LLC now owns 44,447 shares of the oil and gas producer's stock valued at $1,878,000 after purchasing an additional 11,599 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Delek Logistics Partners by 4.2% during the fourth quarter. Wells Fargo & Company MN now owns 30,338 shares of the oil and gas producer's stock valued at $1,282,000 after purchasing an additional 1,223 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Delek Logistics Partners during the fourth quarter valued at approximately $17,819,000. Raymond James Financial Inc. purchased a new position in shares of Delek Logistics Partners during the fourth quarter valued at approximately $6,050,000. Finally, Zuckerman Investment Group LLC purchased a new position in shares of Delek Logistics Partners during the fourth quarter valued at approximately $263,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Delek Logistics Partners Stock Performance

Shares of DKL stock traded up $1.24 during mid-day trading on Thursday, reaching $45.14. 152,266 shares of the company's stock traded hands, compared to its average volume of 83,406. Delek Logistics Partners, L.P. has a 12 month low of $34.59 and a 12 month high of $48.00. The firm has a 50 day moving average price of $43.67 and a two-hundred day moving average price of $41.86. The company has a debt-to-equity ratio of 22.02, a quick ratio of 1.52 and a current ratio of 1.61. The firm has a market capitalization of $2.41 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.99 and a beta of 0.69.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The firm had revenue of $246.35 million during the quarter, compared to the consensus estimate of $289.07 million. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 2,563.77%. On average, research 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 announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 8th will be issued a $1.115 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $4.46 annualized dividend and a yield of 9.9%. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. Delek Logistics Partners's payout ratio is currently 148.49%.

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.