Easterly Investment Partners LLC Acquires New Shares in Delek Logistics Partners, LP (NYSE:DKL)

Easterly Investment Partners LLC bought a new position in Delek Logistics Partners, LP (NYSE:DKL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,883 shares of the oil and gas producer’s stock, valued at approximately $587,000.

Several other large investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners in the 4th quarter worth approximately $64,000. Millburn Ridgefield Corp acquired a new position in shares of Delek Logistics Partners in the third quarter worth about $131,000. Van ECK Associates Corp raised its position in Delek Logistics Partners by 74.6% during the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 2,074 shares during the period. Stifel Financial Corp purchased a new stake in Delek Logistics Partners in the 3rd quarter worth approximately $206,000. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Delek Logistics Partners by 19.1% during the 4th quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 1,223 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James raised their price objective 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 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.25.

Delek Logistics Partners Price Performance

NYSE:DKL opened at $43.83 on Friday. The stock has a market cap of $2.35 billion, a P/E ratio of 15.54, a PEG ratio of 1.28 and a beta of 2.01. The company has a fifty day moving average price of $42.42 and a 200 day moving average price of $41.34. Delek Logistics Partners, LP has a one year low of $37.02 and a one year high of $45.71.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.06). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The firm had revenue of $209.86 million for the quarter, compared to analyst estimates of $240.05 million. As a group, equities research 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 announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a $1.105 dividend. The ex-dividend date was Tuesday, February 4th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.09%. Delek Logistics Partners’s dividend payout ratio 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.