PFG Investments LLC Acquires Shares of 18,500 Delek Logistics Partners, L.P. $DKL

PFG Investments LLC bought a new position in shares of Delek Logistics Partners, L.P. (NYSE:DKL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,500 shares of the oil and gas producer’s stock, valued at approximately $795,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. raised its holdings in Delek Logistics Partners by 9.5% in the 1st quarter. Raymond James Financial Inc. now owns 156,752 shares of the oil and gas producer’s stock valued at $6,781,000 after acquiring an additional 13,580 shares during the period. Alps Advisors Inc. increased its stake in shares of Delek Logistics Partners by 31.3% during the first quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer’s stock worth $186,722,000 after purchasing an additional 1,028,497 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in Delek Logistics Partners during the 1st quarter worth approximately $351,000. Plan Group Financial LLC bought a new stake in Delek Logistics Partners in the 1st quarter valued at $1,090,000. Finally, HB Wealth Management LLC acquired a new position in Delek Logistics Partners in the 1st quarter valued at $250,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Mizuho lifted their target price on Delek Logistics Partners from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and a consensus target price of $44.25.

Insider Buying and Selling at Delek Logistics Partners

In related news, Director Charles J. Brown III sold 1,134 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $42.91, for a total transaction of $48,659.94. Following the sale, the director owned 17,971 shares in the company, valued at approximately $771,135.61. This trade represents a 5.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 2,134 shares of company stock worth $93,660. Corporate insiders own 1.00% of the company’s stock.

Delek Logistics Partners Price Performance

Delek Logistics Partners stock opened at $44.68 on Friday. The firm has a market cap of $2.39 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.59. The company has a debt-to-equity ratio of 69.13, a current ratio of 0.93 and a quick ratio of 0.89. The stock’s fifty day moving average price is $44.31 and its two-hundred day moving average price is $42.45. Delek Logistics Partners, L.P. has a one year low of $34.59 and a one year high of $48.00.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $246.35 million for the quarter, compared to analysts’ expectations of $289.07 million. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. As a group, research analysts expect that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were given a $1.115 dividend. This represents a $4.46 annualized dividend and a dividend yield of 10.0%. The ex-dividend date was Friday, August 8th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.11. Delek Logistics Partners’s dividend payout ratio is presently 151.19%.

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.