Alps Advisors Inc. Grows Stock Position in Delek Logistics Partners, L.P. $DKL

Alps Advisors Inc. increased its holdings in Delek Logistics Partners, L.P. (NYSE:DKL) by 3.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,489,123 shares of the oil and gas producer’s stock after purchasing an additional 165,741 shares during the quarter. Delek Logistics Partners makes up about 1.2% of Alps Advisors Inc.’s investment portfolio, making the stock its 14th largest position. Alps Advisors Inc. owned about 0.08% of Delek Logistics Partners worth $200,305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Delek Logistics Partners by 4.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,584,902 shares of the oil and gas producer’s stock valued at $72,176,000 after buying an additional 61,840 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Delek Logistics Partners by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 431,845 shares of the oil and gas producer’s stock worth $19,269,000 after acquiring an additional 4,879 shares during the last quarter. Raymond James Financial Inc. grew its stake in Delek Logistics Partners by 11.2% in the 3rd quarter. Raymond James Financial Inc. now owns 228,090 shares of the oil and gas producer’s stock worth $10,387,000 after acquiring an additional 23,054 shares during the period. UBS Group AG grew its stake in Delek Logistics Partners by 7.5% in the 4th quarter. UBS Group AG now owns 123,564 shares of the oil and gas producer’s stock worth $5,513,000 after acquiring an additional 8,649 shares during the period. Finally, Castellan Group raised its holdings in Delek Logistics Partners by 4.9% in the 4th quarter. Castellan Group now owns 84,732 shares of the oil and gas producer’s stock valued at $3,781,000 after acquiring an additional 3,989 shares during the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners Trading Up 2.3%

NYSE DKL opened at $53.72 on Friday. Delek Logistics Partners, L.P. has a 12 month low of $41.72 and a 12 month high of $55.89. The company has a 50-day moving average of $50.91 and a 200-day moving average of $49.98. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92. The company has a market cap of $2.86 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.61 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The company had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. As a group, equities analysts predict that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 8.4%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s dividend payout ratio is currently 143.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup reissued a “neutral” rating and set a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Mizuho increased their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Truist Financial started coverage on Delek Logistics Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price target on the stock. Finally, Raymond James Financial reissued an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Delek Logistics Partners has an average rating of “Hold” and a consensus 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.