143,172 Shares in Delek Logistics Partners, LP (NYSE:DKL) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 143,172 shares of the oil and gas producer's stock, valued at approximately $6,050,000. Raymond James Financial Inc. owned approximately 0.28% of Delek Logistics Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Delek Logistics Partners by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer's stock valued at $10,678,000 after buying an additional 31,654 shares during the last quarter. Summit Trail Advisors LLC acquired a new position in Delek Logistics Partners in the 4th quarter valued at $482,000. Strategic Financial Concepts LLC raised 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 buying an additional 464,343 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Delek Logistics Partners in the 4th quarter worth $621,000. Finally, LPL Financial LLC increased its stake in shares of 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. 11.75% of the stock is owned by hedge funds and other institutional investors.

Delek Logistics Partners Stock Performance

DKL stock traded down $0.80 during trading on Wednesday, reaching $39.28. 302,561 shares of the company were exchanged, compared to its average volume of 157,776. The stock's 50 day moving average price is $40.37 and its 200 day moving average price is $40.64. Delek Logistics Partners, LP has a 52-week low of $34.59 and a 52-week high of $45.71. The company has a market cap of $2.11 billion, a P/E ratio of 13.93, a PEG ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released 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 firm had revenue of $209.86 million during the quarter, compared to analyst estimates of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. As a group, equities research analysts forecast that Delek Logistics Partners, LP will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 11.30%. The ex-dividend date of this dividend is Thursday, May 8th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. Delek Logistics Partners's payout ratio is 147.83%.

Analyst Upgrades and Downgrades

Separately, Raymond James lifted their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.