PFG Investments LLC Decreases Stake in Delek Logistics Partners, L.P. $DKL

PFG Investments LLC lessened its holdings in shares of Delek Logistics Partners, L.P. (NYSE:DKL) by 32.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,800 shares of the oil and gas producer’s stock after selling 10,850 shares during the quarter. PFG Investments LLC’s holdings in Delek Logistics Partners were worth $1,135,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in Delek Logistics Partners during the second quarter worth approximately $50,000. Jones Financial Companies Lllp increased its position in shares of Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after acquiring an additional 910 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Delek Logistics Partners by 245.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after acquiring an additional 1,910 shares during the period. Bank of America Corp DE raised its stake in shares of Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after acquiring an additional 3,868 shares during the period. Finally, Motiv8 Investments LLC acquired a new position in shares of Delek Logistics Partners during the 4th quarter valued at $192,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Trading Down 0.1%

NYSE DKL opened at $52.20 on Monday. The company’s fifty day simple moving average is $51.23 and its 200-day simple moving average is $50.54. Delek Logistics Partners, L.P. has a 52 week low of $41.72 and a 52 week high of $55.89. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The stock has a market cap of $2.78 billion, a P/E ratio of 16.52, a PEG ratio of 0.61 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.20). The firm had revenue of $297.47 million during the quarter, compared to analysts’ expectations of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. Equities research analysts predict that Delek Logistics Partners, L.P. will post 3.86 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $1.13 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.52 dividend on an annualized basis and a yield of 8.7%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 143.04%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho upped their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Truist Financial started coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective on the stock. Raymond James Financial restated an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Zacks Research raised Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners has a consensus rating of “Hold” and an average price target of $55.25.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.