CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in Delek Logistics Partners, LP (NYSE:DKL – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the oil and gas producer’s stock, valued at approximately $1,690,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.08% of Delek Logistics Partners as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new position in Delek Logistics Partners in the 3rd quarter worth $49,000. Future Financial Wealth Managment LLC acquired a new position in shares of Delek Logistics Partners during the third quarter worth about $70,000. Sittner & Nelson LLC bought a new position in shares of Delek Logistics Partners during the third quarter worth about $109,000. Millburn Ridgefield Corp acquired a new stake in Delek Logistics Partners in the 3rd quarter valued at approximately $131,000. Finally, Stifel Financial Corp bought a new stake in Delek Logistics Partners in the 3rd quarter valued at approximately $206,000. Institutional investors own 11.75% of the company’s stock.
Analyst Upgrades and Downgrades
DKL has been the topic of a number of recent research reports. StockNews.com downgraded shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Truist Financial lifted their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Bank of America started coverage on shares of Delek Logistics Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.00.
Delek Logistics Partners Trading Down 0.2 %
NYSE:DKL opened at $44.24 on Friday. The firm has a fifty day simple moving average of $41.22 and a 200 day simple moving average of $40.77. Delek Logistics Partners, LP has a 1-year low of $37.02 and a 1-year high of $47.67. The stock has a market capitalization of $2.28 billion, a PE ratio of 15.69, a P/E/G ratio of 1.40 and a beta of 2.10.
Delek Logistics Partners (NYSE:DKL – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The firm had revenue of $214.07 million for the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, equities analysts predict that Delek Logistics Partners, LP will post 3.05 earnings per share for the current fiscal year.
Delek Logistics Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 9.95%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 156.03%.
Insider Buying and Selling
In related news, Chairman Ezra Uzi Yemin bought 3,750 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the purchase, the chairman now owns 162,217 shares in the company, valued at $6,480,569.15. This represents a 2.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 4,835 shares of company stock valued at $192,184. 1.00% of the stock is owned by insiders.
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.
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