Stifel Financial Corp Makes New Investment in Delek Logistics Partners, LP (NYSE:DKL)

Stifel Financial Corp bought a new position in Delek Logistics Partners, LP (NYSE:DKL) in the third quarter, HoldingsChannel.com reports. The fund bought 4,721 shares of the oil and gas producer’s stock, valued at approximately $206,000.

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC boosted its stake in 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 worth $201,000 after purchasing an additional 484,571 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Delek Logistics Partners during the 2nd quarter worth about $522,000. Infrastructure Capital Advisors LLC grew its holdings in Delek Logistics Partners by 18.6% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock worth $11,055,000 after acquiring an additional 39,577 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Delek Logistics Partners in the second quarter worth about $456,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Delek Logistics Partners during the third quarter worth approximately $49,000. 11.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DKL has been the topic of a number of analyst reports. Bank of America initiated coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target on the stock. Truist Financial increased their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $44.00.

Insider Transactions at Delek Logistics Partners

In related news, CFO Reuven Spiegel acquired 1,282 shares of the stock in a transaction dated Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the purchase, the chief financial officer now directly owns 20,223 shares in the company, valued at $788,697. This trade represents a 6.77 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ezra Uzi Yemin acquired 3,750 shares of Delek Logistics Partners stock in a transaction on Monday, December 16th. The stock was purchased at an average cost of $39.95 per share, with a total value of $149,812.50. Following the completion of the transaction, the chairman now directly owns 162,217 shares in the company, valued at $6,480,569.15. This represents a 2.37 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 11,884 shares of company stock worth $467,095 over the last three months. 1.00% of the stock is owned by company insiders.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $41.05 on Tuesday. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $47.67. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.13 and a beta of 2.12. The stock has a fifty day moving average price of $39.50 and a 200-day moving average price of $40.33.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The business 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 company earned $0.80 earnings per share. Research analysts predict that Delek Logistics Partners, LP will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were 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 dividend on an annualized basis and a dividend yield of 10.72%. The ex-dividend date was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Delek Logistics Partners Company 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.