Easterly Investment Partners LLC Invests $587,000 in Delek Logistics Partners, LP (NYSE:DKL)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners in the fourth quarter valued at about $64,000. Millburn Ridgefield Corp purchased a new stake in Delek Logistics Partners during the 3rd quarter worth about $131,000. Van ECK Associates Corp raised its position in shares of Delek Logistics Partners by 74.6% in 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 last quarter. Stifel Financial Corp acquired a new position in Delek Logistics Partners in the 3rd quarter valued at $206,000. Finally, Apollon Wealth Management LLC lifted its position in Delek Logistics Partners by 19.1% during the fourth quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock worth $323,000 after buying an additional 1,223 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Delek Logistics Partners Stock Down 0.1 %

Shares of NYSE:DKL opened at $43.83 on Friday. The company has a 50 day moving average of $42.42 and a two-hundred day moving average of $41.34. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.28 and a beta of 2.01. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $45.71.

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

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. This represents a $4.42 dividend on an annualized basis and a yield of 10.09%. The ex-dividend date was Tuesday, February 4th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 147.83%.

About Delek Logistics Partners

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.