NEOS Investment Management LLC grew its stake in shares of Delek Logistics Partners, L.P. (NYSE:DKL – Free Report) by 56.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 173,361 shares of the oil and gas producer’s stock after buying an additional 62,267 shares during the period. NEOS Investment Management LLC’s holdings in Delek Logistics Partners were worth $8,935,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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. Alps Advisors Inc. raised its holdings in 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 acquiring an additional 165,741 shares in the last quarter. HRT Financial LP lifted its position in shares of Delek Logistics Partners by 278.3% in the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after acquiring an additional 54,959 shares during the period. Raymond James Financial Inc. lifted its position 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 worth $8,806,000 after acquiring an additional 48,284 shares during the period. Finally, Pinnacle Holdings LLC acquired a new stake in shares of Delek Logistics Partners during the 2nd quarter worth approximately $1,703,000. Institutional investors own 11.75% of the company’s stock.
Delek Logistics Partners Trading Up 0.6%
DKL stock opened at $55.62 on Friday. Delek Logistics Partners, L.P. has a 1-year low of $42.35 and a 1-year high of $61.50. The firm has a market cap of $3.18 billion, a P/E ratio of 19.38 and a beta of 0.44. The business’s 50 day moving average is $55.41 and its 200-day moving average is $52.93. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 386.77.
Delek Logistics Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.135 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a yield of 8.2%. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio is currently 158.19%.
Analyst Ratings Changes
A number of research firms have recently issued reports on DKL. Weiss Ratings cut Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. UBS Group started coverage on shares of Delek Logistics Partners in a research note on Thursday, July 16th. They set a “neutral” rating and a $56.00 price target on the stock. Finally, Zacks Research raised shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Delek Logistics Partners currently has an average rating of “Hold” and an average price target of $55.40.
View Our Latest Analysis on DKL
Insider Activity
In related news, EVP Reuven Spiegel acquired 1,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $50.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the executive vice president owned 29,549 shares in the company, valued at $1,477,450. The trade was a 3.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Hobbs bought 4,000 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, for a total transaction of $200,000.00. Following the purchase, the executive vice president directly owned 24,125 shares in the company, valued at $1,206,250. This represents a 19.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 15,000 shares of company stock valued at $750,000. 1.00% of the stock is owned by company insiders.
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.
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