PFG Investments LLC Trims Stock Holdings in Delek Logistics Partners, L.P. $DKL

PFG Investments LLC lessened its holdings in shares of Delek Logistics Partners, L.P. (NYSE:DKL) by 32.2% in the first quarter, Holdings Channel.com reports. The firm owned 22,800 shares of the oil and gas producer’s stock after selling 10,850 shares during the period. PFG Investments LLC’s holdings in Delek Logistics Partners were worth $1,135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DKL. Alps Advisors Inc. raised its position in shares of Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after purchasing an additional 165,741 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Delek Logistics Partners by 4.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,584,902 shares of the oil and gas producer’s stock valued at $72,176,000 after buying an additional 61,840 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Delek Logistics Partners by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 431,845 shares of the oil and gas producer’s stock worth $19,269,000 after buying an additional 4,879 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Delek Logistics Partners by 11.2% during the third quarter. Raymond James Financial Inc. now owns 228,090 shares of the oil and gas producer’s stock worth $10,387,000 after buying an additional 23,054 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Delek Logistics Partners by 7.5% in the fourth quarter. UBS Group AG now owns 123,564 shares of the oil and gas producer’s stock worth $5,513,000 after buying an additional 8,649 shares during the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners Price Performance

Shares of NYSE DKL opened at $52.20 on Monday. Delek Logistics Partners, L.P. has a twelve month low of $41.72 and a twelve month high of $55.89. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 0.61 and a beta of 0.47. The business has a 50 day simple moving average of $51.23 and a 200-day simple moving average of $50.54.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.20). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The firm had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. As a group, equities research analysts expect that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a dividend of $1.13 per share. The ex-dividend date was Monday, May 4th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.52 annualized dividend and a yield of 8.7%. Delek Logistics Partners’s payout ratio is presently 143.04%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DKL shares. Truist Financial started coverage on shares of Delek Logistics Partners in a report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price target on the stock. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Zacks Research raised shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Raymond James Financial restated an “outperform” rating and issued a $60.00 target price on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Finally, Mizuho increased their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.25.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.