JPMorgan Chase & Co. Has $6.95 Million Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL)

JPMorgan Chase & Co. cut its stake in Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,556 shares of the oil and gas producer's stock after selling 79,687 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Delek Logistics Partners worth $6,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Focus Financial Network Inc. lifted its stake in shares of Delek Logistics Partners by 5.6% in the fourth quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer's stock valued at $429,000 after buying an additional 542 shares during the period. Apollon Wealth Management LLC raised its holdings in Delek Logistics Partners by 19.1% in the 4th quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer's stock valued at $323,000 after acquiring an additional 1,223 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Delek Logistics Partners in the 4th quarter worth approximately $64,000. American Financial Group Inc. grew its holdings in shares of Delek Logistics Partners by 20.0% during the 4th quarter. American Financial Group Inc. now owns 12,000 shares of the oil and gas producer's stock worth $507,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Delek Logistics Partners by 74.6% during the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer's stock valued at $205,000 after purchasing an additional 2,074 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised their target price on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Delek Logistics Partners presently has a consensus rating of "Hold" and an average target price of $44.25.

Delek Logistics Partners Stock Performance

NYSE DKL traded up $1.52 during trading on Tuesday, reaching $37.87. 180,972 shares of the company traded hands, compared to its average volume of 155,396. Delek Logistics Partners, LP has a 1-year low of $34.59 and a 1-year high of $45.71. The stock's 50 day moving average price is $40.62 and its two-hundred day moving average price is $40.75. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.06). The company had revenue of $209.86 million during the quarter, compared to the consensus estimate of $240.05 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. Equities research analysts expect that Delek Logistics Partners, LP will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were given a dividend of $1.105 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a dividend yield of 11.67%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.10. Delek Logistics Partners's dividend payout ratio (DPR) is 147.83%.

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.