JPMorgan Chase & Co. Purchases 31,654 Shares of Delek Logistics Partners, LP (NYSE:DKL)

JPMorgan Chase & Co. grew its holdings in Delek Logistics Partners, LP (NYSE:DKL) by 14.9% during the third quarter, Holdings Channel.com reports. The firm owned 244,243 shares of the oil and gas producer’s stock after acquiring an additional 31,654 shares during the period. JPMorgan Chase & Co.’s holdings in Delek Logistics Partners were worth $10,678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DKL. Infrastructure Capital Advisors LLC boosted its position 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 valued at $11,055,000 after buying an additional 39,577 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Delek Logistics Partners in the second quarter valued at about $522,000. Susquehanna Fundamental Investments LLC bought a new position in Delek Logistics Partners during the second quarter worth about $456,000. Indie Asset Partners LLC acquired a new stake in Delek Logistics Partners during the 3rd quarter worth $306,000. Finally, Apollon Wealth Management LLC bought a new position in shares of Delek Logistics Partners during the 3rd quarter valued at about $281,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Ezra Uzi Yemin purchased 710 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $38.72 per share, for a total transaction of $27,491.20. Following the completion of the acquisition, the chairman now owns 54,851 shares of the company’s stock, valued at $2,123,830.72. This represents a 1.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 4,835 shares of company stock valued at $192,184 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Delek Logistics Partners Stock Down 0.4 %

DKL opened at $42.20 on Monday. The company has a 50-day simple moving average of $40.12 and a 200 day simple moving average of $40.49. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.15 and a beta of 2.10. Delek Logistics Partners, LP has a twelve month low of $37.02 and a twelve month high of $47.67.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The company had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. During the same period in the previous year, the company earned $0.80 EPS. Sell-side analysts anticipate that Delek Logistics Partners, LP will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a $1.10 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. This represents a $4.40 annualized dividend and a yield of 10.43%. Delek Logistics Partners’s payout ratio is presently 156.03%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DKL shares. Truist Financial increased their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Bank of America began coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price objective on the stock. Finally, StockNews.com cut shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.00.

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.