Strategic Financial Concepts LLC Invests $475,000 in Delek Logistics Partners, LP (NYSE:DKL)

Strategic Financial Concepts LLC bought a new stake in Delek Logistics Partners, LP (NYSE:DKL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,585 shares of the oil and gas producer’s stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners during the 1st quarter valued at $66,000. Spirit of America Management Corp NY bought a new stake in Delek Logistics Partners during the fourth quarter worth about $86,000. Citigroup Inc. bought a new stake in Delek Logistics Partners during the third quarter worth about $88,000. Fifth Third Bancorp purchased a new position in shares of Delek Logistics Partners in the 3rd quarter worth about $103,000. Finally, Nomura Holdings Inc. bought a new position in shares of Delek Logistics Partners during the 3rd quarter valued at about $210,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

Delek Logistics Partners Stock Down 0.4 %

Shares of NYSE DKL traded down $0.14 during midday trading on Tuesday, reaching $39.49. The company had a trading volume of 120,347 shares, compared to its average volume of 73,731. The stock has a market cap of $1.72 billion, a PE ratio of 13.62 and a beta of 2.07. Delek Logistics Partners, LP has a one year low of $36.50 and a one year high of $58.81. The firm’s fifty day moving average price is $40.83 and its 200-day moving average price is $44.16.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $254.15 million during the quarter, compared to the consensus estimate of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. As a group, equities research analysts expect that Delek Logistics Partners, LP will post 3.48 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a dividend of $1.025 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.25. This represents a $4.10 dividend on an annualized basis and a yield of 10.38%. The ex-dividend date of this dividend is Tuesday, May 7th. Delek Logistics Partners’s dividend payout ratio is currently 145.52%.

Analyst Ratings Changes

A number of research firms recently weighed in on DKL. Truist Financial began coverage on Delek Logistics Partners in a research report on Friday, April 19th. They issued a “buy” rating and a $46.00 target price for the company. StockNews.com upgraded shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, Raymond James raised shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

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.