Tortoise Capital Advisors L.L.C. raised its stake in Delek Logistics Partners, LP (NYSE:DKL) by 1,941.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,424 shares of the oil and gas producer’s stock after purchasing an additional 128,790 shares during the quarter. Tortoise Capital Advisors L.L.C. owned 0.31% of Delek Logistics Partners worth $4,874,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of DKL. Sowell Financial Services LLC increased its position in shares of Delek Logistics Partners by 847.4% during the first quarter. Sowell Financial Services LLC now owns 2,018 shares of the oil and gas producer’s stock valued at $82,000 after acquiring an additional 1,805 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Delek Logistics Partners during the first quarter valued at approximately $224,000. Boston Private Wealth LLC purchased a new stake in shares of Delek Logistics Partners during the first quarter valued at approximately $229,000. Groesbeck Investment Management Corp NJ purchased a new stake in shares of Delek Logistics Partners during the first quarter valued at approximately $264,000. Finally, Glenview Trust Co purchased a new stake in shares of Delek Logistics Partners during the first quarter valued at approximately $270,000. 10.36% of the stock is owned by institutional investors.
Several brokerages have weighed in on DKL. Wells Fargo & Company increased their price objective on Delek Logistics Partners from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, May 13th. Credit Suisse Group increased their price objective on Delek Logistics Partners from $37.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, May 24th. Finally, Zacks Investment Research raised Delek Logistics Partners from a “sell” rating to a “hold” rating in a report on Monday, May 10th.
Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Tuesday, May 4th. The oil and gas producer reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.06. Delek Logistics Partners had a negative return on equity of 154.43% and a net margin of 28.59%. The business had revenue of $152.91 million for the quarter, compared to the consensus estimate of $133.39 million. Research analysts anticipate that Delek Logistics Partners, LP will post 3.74 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Monday, May 10th were given a dividend of $0.92 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, May 7th. This represents a $3.68 dividend on an annualized basis and a yield of 9.02%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 88.04%.
Delek Logistics Partners 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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