Wealthfront Advisers LLC Buys New Position in Delek Logistics Partners, LP (NYSE:DKL)

Wealthfront Advisers LLC bought a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,812 shares of the oil and gas producer’s stock, valued at approximately $506,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DKL. Venturi Wealth Management LLC bought a new stake in shares of Delek Logistics Partners during the 4th quarter valued at about $64,000. Millburn Ridgefield Corp bought a new stake in shares of Delek Logistics Partners during the 3rd quarter valued at about $131,000. Van ECK Associates Corp boosted its position in shares of Delek Logistics Partners by 74.6% during the 4th quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock valued at $205,000 after purchasing an additional 2,074 shares in the last quarter. Stifel Financial Corp bought a new position in Delek Logistics Partners in the third quarter worth approximately $206,000. Finally, Apollon Wealth Management LLC bought a new position in Delek Logistics Partners in the third quarter worth approximately $281,000. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Up 1.8 %

DKL stock opened at $41.67 on Monday. Delek Logistics Partners, LP has a twelve month low of $37.02 and a twelve month high of $45.71. The stock’s 50 day moving average is $42.32 and its 200-day moving average is $41.21. The firm has a market capitalization of $2.24 billion, a PE ratio of 14.78, a P/E/G ratio of 1.28 and a beta of 2.01.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The company had revenue of $209.86 million during the quarter, compared to the consensus estimate of $240.05 million. On average, equities research analysts anticipate that Delek Logistics Partners, LP will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a $1.105 dividend. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.61%. The ex-dividend date of this dividend was Tuesday, February 4th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 147.83%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DKL. Raymond James increased their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Truist Financial increased their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.25.

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.