B. Riley Wealth Advisors Inc. Trims Stake in Delek Logistics Partners, LP (NYSE:DKL)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Delek Logistics Partners, LP (NYSE:DKL) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,197 shares of the oil and gas producer’s stock after selling 3,215 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Delek Logistics Partners were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tortoise Index Solutions LLC grew its holdings in Delek Logistics Partners by 12.9% in the fourth quarter. Tortoise Index Solutions LLC now owns 11,527 shares of the oil and gas producer’s stock worth $498,000 after purchasing an additional 1,316 shares during the period. Focus Financial Network Inc. ADV purchased a new stake in Delek Logistics Partners in the fourth quarter worth about $408,000. Thoroughbred Financial Services LLC grew its holdings in Delek Logistics Partners by 9.6% in the fourth quarter. Thoroughbred Financial Services LLC now owns 7,379 shares of the oil and gas producer’s stock worth $318,000 after purchasing an additional 648 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Delek Logistics Partners by 245.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,826 shares of the oil and gas producer’s stock worth $20,930,000 after purchasing an additional 344,464 shares during the period. Finally, Spirit of America Management Corp NY purchased a new stake in Delek Logistics Partners in the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Up 2.8 %

NYSE:DKL opened at $40.14 on Tuesday. Delek Logistics Partners, LP has a 52 week low of $36.50 and a 52 week high of $57.92. The company’s 50 day moving average price is $39.29 and its 200-day moving average price is $41.91. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 14.49 and a beta of 2.09.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. Delek Logistics Partners had a net margin of 11.81% and a negative return on equity of 115.32%. The company had revenue of $252.08 million for the quarter, compared to analysts’ expectations of $263.96 million. As a group, sell-side analysts anticipate that Delek Logistics Partners, LP will post 3.27 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, May 15th. Investors of record on Wednesday, May 8th were issued a $1.025 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $4.10 annualized dividend and a yield of 10.21%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.25. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 154.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DKL shares. Truist Financial started coverage on shares of Delek Logistics Partners in a report on Friday, April 19th. They set a “buy” rating and a $46.00 price target on the stock. Raymond James upgraded shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Tuesday, March 19th. Finally, StockNews.com upgraded shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Delek Logistics Partners 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.