MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 42.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 969,982 shares of the oil and gas producer's stock after acquiring an additional 288,033 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.88% of Delek Logistics Partners worth $40,991,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC lifted its stake in shares of Delek Logistics Partners by 3,838.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer's stock worth $20,134,000 after purchasing an additional 464,343 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Delek Logistics Partners during the fourth quarter worth about $17,819,000. ING Groep NV lifted its stake in shares of Delek Logistics Partners by 2,491.7% during the fourth quarter. ING Groep NV now owns 311,000 shares of the oil and gas producer's stock worth $13,143,000 after purchasing an additional 299,000 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Delek Logistics Partners by 50.8% during the fourth quarter. Clearbridge Investments LLC now owns 296,718 shares of the oil and gas producer's stock worth $12,539,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Cohen & Steers Inc. acquired a new position in shares of Delek Logistics Partners during the fourth quarter worth about $11,805,000. Institutional investors and hedge funds own 11.75% of the company's stock.
Delek Logistics Partners Stock Performance
Shares of NYSE:DKL traded up $0.64 during trading on Friday, hitting $41.42. The company's stock had a trading volume of 145,023 shares, compared to its average volume of 162,362. Delek Logistics Partners, LP has a fifty-two week low of $34.59 and a fifty-two week high of $45.71. The stock's 50-day moving average price is $39.92 and its two-hundred day moving average price is $40.69. The company has a market capitalization of $2.22 billion, a PE ratio of 14.69, a PEG ratio of 1.28 and a beta of 0.81.
Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The business had revenue of $249.93 million for the quarter, compared to analysts' expectations of $237.17 million. On average, equities analysts predict that Delek Logistics Partners, LP will post 3.01 earnings per share for the current fiscal year.
Delek Logistics Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a $1.11 dividend. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.44 annualized dividend and a yield of 10.72%. The ex-dividend date was Thursday, May 8th. Delek Logistics Partners's payout ratio is currently 148.49%.
Analyst Ratings Changes
A number of brokerages have commented on DKL. Raymond James boosted their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. StockNews.com cut Delek Logistics Partners from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $44.25.
Get Our Latest Stock Report on DKL
About Delek Logistics Partners
(
Free Report)
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.
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