JPMorgan Chase & Co. Grows Position in Delek Logistics Partners, L.P. $DKL

JPMorgan Chase & Co. lifted its holdings in shares of Delek Logistics Partners, L.P. (NYSE:DKL) by 30.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,966 shares of the oil and gas producer’s stock after buying an additional 99,500 shares during the quarter. JPMorgan Chase & Co. owned about 0.80% of Delek Logistics Partners worth $19,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Delek Logistics Partners by 24.4% during the 2nd 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 purchasing an additional 298,867 shares during the period. Alps Advisors Inc. raised its holdings in Delek Logistics Partners by 2.5% in the 3rd quarter. Alps Advisors Inc. now owns 4,323,382 shares of the oil and gas producer’s stock worth $196,887,000 after purchasing an additional 104,115 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 purchasing 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 purchasing an additional 48,284 shares during the period. Finally, TT Capital Management LLC bought a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at about $1,270,000. 11.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Truist Financial started coverage on shares of Delek Logistics Partners in a report on Tuesday. They set a “hold” rating and a $57.00 target price on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Finally, Zacks Research cut shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.25.

Delek Logistics Partners Trading Down 1.0%

Shares of NYSE:DKL opened at $53.69 on Thursday. The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07. Delek Logistics Partners, L.P. has a 1 year low of $34.59 and a 1 year high of $55.89. The company has a market cap of $2.87 billion, a P/E ratio of 16.32, a PEG ratio of 0.50 and a beta of 0.51. The stock’s fifty day moving average price is $52.13 and its 200-day moving average price is $47.62.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.38). The company had revenue of $255.77 million during the quarter, compared to analysts’ expectations of $283.64 million. Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%. Sell-side analysts expect that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were paid a $1.125 dividend. This represents a $4.50 annualized dividend and a dividend yield of 8.4%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Thursday, February 5th. Delek Logistics Partners’s dividend payout ratio is 136.78%.

Delek Logistics Partners Company Profile

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.