IFG Advisory LLC Makes New $640,000 Investment in Delek Logistics Partners, LP (NYSE:DKL)
IFG Advisory LLC has made a new investment in Delek Logistics Partners, LP, acquiring 15,800 shares valued at approximately $500,000. Other large investors also increased their stakes, contributing to a 4.7% rise in DKL's stock price. Delek Logistics recently reported better-than-expected earnings and announced a quarterly dividend, raising it to $0.09 per share. Analysts have upgraded the stock rating, and CFO Reuven Spiegel purchased additional shares. Current dividend yield stands at 10.56% with a payout ratio of 157.40%.
IFG Advisory LLC purchased a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 15,800 shares of the oil and gas producer's stock, valued at approximately $640,000.
Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Delek Logistics Partners by 205.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer's stock valued at $60,775,000 after acquiring an additional 997,860 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Delek Logistics Partners by 263.8% in the first quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer's stock worth $1,539,000 after purchasing an additional 27,217 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Delek Logistics Partners during the first quarter worth $12,656,000. B. Riley Wealth Advisors Inc. raised its holdings in Delek Logistics Partners by 31.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer's stock valued at $563,000 after buying an additional 3,215 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners in the first quarter worth about $66,000. Institutional investors own 11.75% of the company's stock.
Delek Logistics Partners Stock Up 4.7 %
DKL opened at $41.29 on Friday. The stock's 50 day moving average price is $40.07 and its two-hundred day moving average price is $40.34. The firm has a market capitalization of $1.95 billion, a P/E ratio of 14.91 and a beta of 2.12. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $53.80.
Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The business had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. As a group, analysts anticipate that Delek Logistics Partners, LP will post 3.41 earnings per share for the current year.
Delek Logistics Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 10.56%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Delek Logistics Partners's previous quarterly dividend of $0.73. Delek Logistics Partners's dividend payout ratio (DPR) is presently 157.40%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Citigroup raised Delek Logistics Partners from a "neutral" rating to a "buy" rating and raised their price objective for the company from $44.00 to $45.00 in a research note on Wednesday. StockNews.com upgraded shares of Delek Logistics Partners from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, August 7th.
Read Our Latest Stock Analysis on Delek Logistics Partners
Insider Buying and Selling
In other news, CFO Reuven Spiegel acquired 3,885 shares of Delek Logistics Partners stock in a transaction on Thursday, August 22nd. The stock was bought at an average price of $38.98 per share, for a total transaction of $151,437.30. Following the transaction, the chief financial officer now owns 20,163 shares of the company's stock, valued at $785,953.74. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Delek Logistics Partners news, CFO Reuven Spiegel acquired 3,885 shares of the company's stock in a transaction dated Thursday, August 22nd. The stock was bought at an average price of $38.98 per share, for a total transaction of $151,437.30. Following the purchase, the chief financial officer now owns 20,163 shares in the company, valued at approximately $785,953.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sherri Anne Brillon bought 2,000 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of $39.00 per share, for a total transaction of $78,000.00. Following the completion of the transaction, the director now owns 11,433 shares in the company, valued at approximately $445,887. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.
About Delek Logistics Partners
(Free Report)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.
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