Raymond James & Associates Has $1.36 Million Holdings in Delek Logistics Partners, LP (NYSE:DKL)

Raymond James & Associates cut its position in Delek Logistics Partners, LP (NYSE:DKL) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,395 shares of the oil and gas producer’s stock after selling 2,781 shares during the period. Raymond James & Associates owned 0.07% of Delek Logistics Partners worth $1,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. acquired a new position in Delek Logistics Partners in the first quarter valued at about $35,000. Fifth Third Bancorp acquired a new position in Delek Logistics Partners in the third quarter valued at about $103,000. Barclays PLC boosted its position in Delek Logistics Partners by 668.7% in the fourth quarter. Barclays PLC now owns 2,629 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 2,287 shares in the last quarter. BNP Paribas Arbitrage SNC acquired a new position in Delek Logistics Partners in the third quarter valued at about $121,000. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Delek Logistics Partners during the first quarter worth approximately $209,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Delek Logistics Partners Price Performance

Shares of NYSE DKL opened at $38.36 on Friday. The company’s 50 day simple moving average is $41.63 and its 200 day simple moving average is $44.26. Delek Logistics Partners, LP has a fifty-two week low of $36.50 and a fifty-two week high of $58.81. The firm has a market capitalization of $1.67 billion, a P/E ratio of 13.23 and a beta of 2.07.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. The business had revenue of $254.15 million for the quarter, compared to analyst estimates of $272.51 million. Sell-side analysts expect that Delek Logistics Partners, LP will post 3.48 EPS for the current fiscal year.

Delek Logistics Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, March 1st were issued a $0.245 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.98 annualized dividend and a yield of 2.55%. Delek Logistics Partners’s dividend payout ratio is currently 145.52%.

Analyst Ratings Changes

DKL has been the topic of a number of research reports. StockNews.com upgraded shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Truist Financial initiated coverage on shares of Delek Logistics Partners in a research report on Friday. They set a “buy” rating and a $46.00 target price on the stock. Finally, Raymond James upgraded shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Delek Logistics Partners currently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

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.