Strategic Financial Concepts LLC Invests $475,000 in Delek Logistics Partners, LP (NYSE:DKL)

Strategic Financial Concepts LLC bought a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 11,585 shares of the oil and gas producer’s stock, valued at approximately $475,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DKL. Future Financial Wealth Managment LLC purchased a new stake in Delek Logistics Partners in the 1st quarter worth $66,000. Spirit of America Management Corp NY bought a new stake in shares of Delek Logistics Partners in the fourth quarter worth about $86,000. Citigroup Inc. purchased a new stake in shares of Delek Logistics Partners in the third quarter worth about $88,000. Fifth Third Bancorp bought a new position in Delek Logistics Partners during the third quarter valued at approximately $103,000. Finally, Nomura Holdings Inc. purchased a new position in Delek Logistics Partners during the 3rd quarter valued at approximately $210,000. Institutional investors own 11.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DKL. Truist Financial started coverage on Delek Logistics Partners in a report on Friday, April 19th. They set a “buy” rating and a $46.00 price objective on the stock. StockNews.com raised shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Finally, Raymond James raised shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.33.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL traded down $0.14 during trading on Tuesday, hitting $39.49. The company had a trading volume of 120,347 shares, compared to its average volume of 73,731. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 13.62 and a beta of 2.07. The company has a fifty day simple moving average of $40.83 and a two-hundred day simple moving average of $44.16. Delek Logistics Partners, LP has a one year low of $36.50 and a one year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. The business had revenue of $254.15 million during the quarter, compared to the consensus estimate of $272.51 million. On average, equities research analysts anticipate that Delek Logistics Partners, LP will post 3.48 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be issued a $1.025 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.25. This represents a $4.10 dividend on an annualized basis and a yield of 10.38%. Delek Logistics Partners’s payout ratio is currently 145.52%.

About Delek Logistics Partners

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.