Glenview Trust Co bought a new stake in Delek Logistics Partners, LP (NYSE:DKL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,500 shares of the oil and gas producer’s stock, valued at approximately $270,000.
Other large investors have also recently modified their holdings of the company. Morgan Stanley boosted its stake in Delek Logistics Partners by 192.4% during the 1st quarter. Morgan Stanley now owns 240,976 shares of the oil and gas producer’s stock worth $2,193,000 after purchasing an additional 158,557 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Delek Logistics Partners by 11.1% during the 4th quarter. JPMorgan Chase & Co. now owns 308,470 shares of the oil and gas producer’s stock valued at $9,871,000 after acquiring an additional 30,740 shares in the last quarter. First Trust Advisors LP grew its stake in Delek Logistics Partners by 18.9% during the 4th quarter. First Trust Advisors LP now owns 104,472 shares of the oil and gas producer’s stock valued at $3,343,000 after acquiring an additional 16,630 shares in the last quarter. Groesbeck Investment Management Corp NJ acquired a new stake in Delek Logistics Partners in the 1st quarter valued at about $264,000. Finally, Vident Investment Advisory LLC purchased a new position in Delek Logistics Partners in the 4th quarter worth approximately $212,000. 10.36% of the stock is currently owned by hedge funds and other institutional investors.
DKL has been the subject of several recent research reports. Credit Suisse Group increased their price target on Delek Logistics Partners from $37.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, May 24th. Wells Fargo & Company boosted their target price on shares of Delek Logistics Partners from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, May 13th. Finally, Zacks Investment Research raised shares of Delek Logistics Partners from a “sell” rating to a “hold” rating in a research report on Monday, May 10th.
Shares of DKL opened at $41.95 on Friday. The firm has a market capitalization of $1.82 billion, a PE ratio of 9.96 and a beta of 2.98. The stock’s 50-day simple moving average is $41.28. Delek Logistics Partners, LP has a 1 year low of $22.38 and a 1 year high of $47.50.
Delek Logistics Partners (NYSE:DKL) last released its earnings results on Tuesday, May 4th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.06. Delek Logistics Partners had a net margin of 28.59% and a negative return on equity of 154.43%. The company had revenue of $152.91 million for the quarter, compared to analyst estimates of $133.39 million. On average, sell-side analysts predict that Delek Logistics Partners, LP will post 3.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Monday, May 10th were paid a $0.92 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $3.68 annualized dividend and a dividend yield of 8.77%. The ex-dividend date of this dividend was Friday, May 7th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 88.04%.
Delek Logistics Partners Company Profile
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and finished products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties.
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