Summit Trail Advisors LLC Buys New Shares in Delek Logistics Partners, LP (NYSE:DKL)

Summit Trail Advisors LLC purchased a new position in Delek Logistics Partners, LP (NYSE:DKL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,400 shares of the oil and gas producer’s stock, valued at approximately $482,000.

Several other institutional investors also recently modified their holdings of the stock. Strategic Financial Concepts LLC boosted its stake in shares of Delek Logistics Partners by 3,838.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after acquiring an additional 464,343 shares in the last quarter. Adams Asset Advisors LLC purchased a new stake in shares of Delek Logistics Partners during the fourth quarter valued at $2,544,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at $1,690,000. Infrastructure Capital Advisors LLC increased its stake in Delek Logistics Partners by 18.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock worth $11,055,000 after purchasing an additional 39,577 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Delek Logistics Partners by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock worth $10,678,000 after buying an additional 31,654 shares during the period. Institutional investors own 11.75% of the company’s stock.

Insider Buying and Selling at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin purchased 710 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $38.72 per share, with a total value of $27,491.20. Following the purchase, the chairman now directly owns 54,851 shares of the company’s stock, valued at approximately $2,123,830.72. This trade represents a 1.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 4,835 shares of company stock valued at $192,184 in the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

DKL has been the subject of several recent analyst reports. Bank of America assumed coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price for the company. Truist Financial raised their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Raymond James boosted their target price on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.25.

Delek Logistics Partners Price Performance

NYSE DKL opened at $42.05 on Wednesday. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.34 and a beta of 2.10. The company has a 50 day simple moving average of $41.92 and a 200-day simple moving average of $40.93. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $46.50.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were given a $1.105 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a yield of 10.51%. Delek Logistics Partners’s dividend payout ratio is presently 156.74%.

Delek Logistics Partners Company Profile

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.