Farther Finance Advisors LLC purchased a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL – Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,110 shares of the oil and gas producer’s stock, valued at approximately $49,000.
Other large investors have also modified their holdings of the company. Westwood Holdings Group Inc. bought a new stake in shares of Delek Logistics Partners during the 1st quarter worth $12,656,000. IFG Advisory LLC purchased a new stake in shares of Delek Logistics Partners in the second quarter valued at $640,000. Strategic Financial Concepts LLC lifted its holdings in shares of Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 484,571 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Delek Logistics Partners by 31.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after purchasing an additional 3,215 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Delek Logistics Partners in the second quarter valued at $522,000. 11.75% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on DKL. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $45.00 in a report on Wednesday, August 28th. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America assumed coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Delek Logistics Partners has an average rating of “Hold” and a consensus target price of $43.00.
Check Out Our Latest Report on Delek Logistics Partners
Delek Logistics Partners Stock Up 1.5 %
Shares of DKL opened at $38.87 on Thursday. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $53.80. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.10 and a beta of 2.12. The stock’s 50-day moving average price is $40.97 and its 200 day moving average price is $40.22.
Delek Logistics Partners (NYSE:DKL – Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The firm had revenue of $214.07 million for the quarter, compared to the consensus estimate of $270.98 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Equities research analysts expect that Delek Logistics Partners, LP will post 3.08 EPS for the current year.
Delek Logistics Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 8th will be paid a $1.10 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a dividend yield of 11.32%. The ex-dividend date of this dividend is Friday, November 8th. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.
Insider Activity
In related news, CFO Reuven Spiegel acquired 3,885 shares of the stock in a transaction dated Thursday, August 22nd. The shares were bought at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the purchase, the chief financial officer now owns 20,163 shares in the company, valued at approximately $785,953.74. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Delek Logistics Partners news, Director Sherri Anne Brillon bought 2,000 shares of Delek Logistics Partners stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $39.00 per share, with a total value of $78,000.00. Following the acquisition, the director now directly owns 11,433 shares of the company’s stock, valued at $445,887. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Reuven Spiegel bought 3,885 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the acquisition, the chief financial officer now directly owns 20,163 shares in the company, valued at $785,953.74. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 12,934 shares of company stock worth $504,348. Company insiders own 1.00% of the company’s stock.
Delek Logistics Partners Company Profile
(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.
Further Reading
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