Delek Logistics Partners, L.P. $DKL Shares Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. raised its position in Delek Logistics Partners, L.P. (NYSE:DKL) by 5.6% during the second quarter, HoldingsChannel.com reports. The firm owned 231,169 shares of the oil and gas producer’s stock after buying an additional 12,266 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Delek Logistics Partners were worth $9,929,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Delek Logistics Partners by 24.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after buying an additional 298,867 shares during the period. JPMorgan Chase & Co. increased its position in shares of Delek Logistics Partners by 16.4% in the second quarter. JPMorgan Chase & Co. now owns 327,466 shares of the oil and gas producer’s stock worth $14,065,000 after acquiring an additional 46,069 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Delek Logistics Partners by 30.8% in the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock valued at $8,806,000 after acquiring an additional 48,284 shares during the period. Castellan Group lifted its holdings in shares of Delek Logistics Partners by 8.1% during the 2nd quarter. Castellan Group now owns 75,954 shares of the oil and gas producer’s stock valued at $3,262,000 after acquiring an additional 5,668 shares in the last quarter. Finally, HRT Financial LP boosted its position in Delek Logistics Partners by 278.3% during the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after purchasing an additional 54,959 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Mizuho raised their price objective on Delek Logistics Partners from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Delek Logistics Partners in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $45.02 on Tuesday. The company has a debt-to-equity ratio of 130.97, a current ratio of 1.03 and a quick ratio of 0.98. The company’s fifty day moving average price is $44.97 and its two-hundred day moving average price is $44.29. The firm has a market capitalization of $2.41 billion, a P/E ratio of 14.57, a P/E/G ratio of 0.55 and a beta of 0.47. Delek Logistics Partners, L.P. has a 12 month low of $34.59 and a 12 month high of $48.00.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.26). Delek Logistics Partners had a return on equity of 360.64% and a net margin of 17.00%.The business had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $251.65 million. On average, research analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Friday, November 7th were issued a dividend of $1.12 per share. The ex-dividend date was Friday, November 7th. This represents a $4.48 annualized dividend and a yield of 10.0%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 144.98%.

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.