Raymond James Financial Inc. Acquires Shares of 143,172 Delek Logistics Partners, LP (NYSE:DKL)

Raymond James Financial Inc. acquired a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 143,172 shares of the oil and gas producer’s stock, valued at approximately $6,050,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC boosted its position 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 valued at $11,055,000 after buying an additional 39,577 shares during the period. Millburn Ridgefield Corp bought a new position in shares of Delek Logistics Partners during the third quarter valued at about $131,000. Stifel Financial Corp purchased a new stake in shares of Delek Logistics Partners during the third quarter worth about $206,000. JPMorgan Chase & Co. grew its stake in shares of Delek Logistics Partners by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock worth $10,678,000 after purchasing an additional 31,654 shares during the last quarter. Finally, Adams Asset Advisors LLC purchased a new position in Delek Logistics Partners during the 4th quarter valued at about $2,544,000. Institutional investors own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James boosted their target price on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and an average target price of $44.25.

Delek Logistics Partners Stock Down 0.0 %

DKL opened at $43.65 on Tuesday. Delek Logistics Partners, LP has a 52 week low of $37.02 and a 52 week high of $45.71. The stock has a market cap of $2.34 billion, a PE ratio of 15.48, a PEG ratio of 1.28 and a beta of 2.01. The business has a 50 day moving average of $42.44 and a 200-day moving average of $41.29.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The firm had revenue of $209.86 million for the quarter, compared to analysts’ expectations of $240.05 million. Equities analysts anticipate that Delek Logistics Partners, LP will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 annualized dividend and a dividend yield of 10.13%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 147.83%.

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.