Sittner & Nelson LLC Acquires Shares of 2,500 Delek Logistics Partners, LP (NYSE:DKL)

Sittner & Nelson LLC acquired a new stake in Delek Logistics Partners, LP (NYSE:DKL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the oil and gas producer’s stock, valued at approximately $109,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DKL. Westwood Holdings Group Inc. bought a new position in shares of Delek Logistics Partners during the first quarter worth about $12,656,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Delek Logistics Partners by 31.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock worth $563,000 after purchasing an additional 3,215 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Delek Logistics Partners during the second quarter worth about $203,000. IFG Advisory LLC bought a new position in shares of Delek Logistics Partners during the second quarter worth about $640,000. Finally, Van ECK Associates Corp lifted its position in shares of Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after purchasing an additional 1,437 shares during the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on DKL shares. Bank of America started coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target on the stock. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. Finally, StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.00.

Insider Activity at Delek Logistics Partners

In related news, President Avigal Soreq acquired 2,563 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the purchase, the president now directly owns 46,758 shares of the company’s stock, valued at $1,823,562. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Delek Logistics Partners news, EVP Joseph Israel bought 3,076 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, for a total transaction of $119,964.00. Following the completion of the acquisition, the executive vice president now owns 13,782 shares of the company’s stock, valued at approximately $537,498. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Avigal Soreq bought 2,563 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average price of $39.00 per share, with a total value of $99,957.00. Following the completion of the acquisition, the president now directly owns 46,758 shares of the company’s stock, valued at $1,823,562. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 12,934 shares of company stock worth $504,348 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Delek Logistics Partners Stock Up 1.4 %

DKL opened at $39.83 on Friday. The company’s 50-day moving average price is $41.18 and its 200 day moving average price is $40.24. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $53.80. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.01 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The company had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. During the same quarter last year, the business earned $0.73 earnings per share. Research analysts anticipate that Delek Logistics Partners, LP will post 3.41 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 8th will be paid a $1.10 dividend. The ex-dividend date is Friday, November 8th. This represents a $4.40 annualized dividend and a dividend yield of 11.05%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 149.83%.

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.