2,500 Shares in Delek Logistics Partners, LP (NYSE:DKL) Acquired by Sittner & Nelson LLC

Sittner & Nelson LLC bought a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL) in the third quarter, Holdings Channel reports. The firm bought 2,500 shares of the oil and gas producer’s stock, valued at approximately $109,000.

A number of other institutional investors also recently modified their holdings of DKL. Strategic Financial Concepts LLC raised its holdings in shares of Delek Logistics Partners by 4,182.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 484,571 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Delek Logistics Partners during the 1st quarter valued at about $12,656,000. IFG Advisory LLC acquired a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at about $640,000. Sanctuary Advisors LLC acquired a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at about $522,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at about $456,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Analyst Ratings Changes

DKL has been the topic of several recent research reports. StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th. Finally, Bank of America started coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Delek Logistics Partners presently has an average rating of “Hold” and an average price target of $43.00.

Delek Logistics Partners Price Performance

DKL opened at $39.83 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.01 and a beta of 2.12. The firm has a 50 day simple moving average of $41.18 and a 200 day simple moving average of $40.24. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $53.80.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. The company had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. During the same period last year, the business posted $0.73 earnings per share. As a group, analysts expect that Delek Logistics Partners, LP will post 3.41 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 8th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 11.05%. Delek Logistics Partners’s dividend payout ratio (DPR) is 149.83%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, CFO Reuven Spiegel bought 1,282 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was acquired at an average price of $39.00 per share, with a total value of $49,998.00. Following the completion of the transaction, the chief financial officer now owns 20,223 shares in the company, valued at approximately $788,697. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Avigal Soreq purchased 2,563 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was purchased at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the purchase, the president now directly owns 46,758 shares in the company, valued at $1,823,562. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Reuven Spiegel purchased 1,282 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was purchased at an average price of $39.00 per share, with a total value of $49,998.00. Following the purchase, the chief financial officer now owns 20,223 shares of the company’s stock, valued at approximately $788,697. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 12,934 shares of company stock valued at $504,348 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.