JPMorgan Chase & Co. raised its holdings in shares of Delek Logistics Partners LP (NYSE:DKL) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 208,305 shares of the oil and gas producer’s stock after buying an additional 870 shares during the quarter. JPMorgan Chase & Co.’s holdings in Delek Logistics Partners were worth $6,755,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Delek Logistics Partners by 2,214.8% in the 4th quarter. Barclays PLC now owns 2,824 shares of the oil and gas producer’s stock worth $83,000 after acquiring an additional 2,702 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Delek Logistics Partners by 4.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,939 shares of the oil and gas producer’s stock worth $8,627,000 after buying an additional 12,841 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in Delek Logistics Partners by 116.5% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 258,162 shares of the oil and gas producer’s stock worth $7,551,000 after buying an additional 138,913 shares during the period. Arrow Investment Advisors LLC increased its stake in Delek Logistics Partners by 23.4% in the 1st quarter. Arrow Investment Advisors LLC now owns 16,948 shares of the oil and gas producer’s stock worth $550,000 after buying an additional 3,211 shares during the period. Finally, FMR LLC increased its stake in Delek Logistics Partners by 7.1% in the 4th quarter. FMR LLC now owns 189,300 shares of the oil and gas producer’s stock worth $5,538,000 after buying an additional 12,606 shares during the period. Institutional investors and hedge funds own 21.56% of the company’s stock.
NYSE DKL opened at $30.35 on Thursday. The stock has a market cap of $768.82 million, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 5.63 and a beta of 1.04. Delek Logistics Partners LP has a one year low of $26.50 and a one year high of $35.50.
Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). Delek Logistics Partners had a negative return on equity of 67.06% and a net margin of 14.00%. The firm had revenue of $152.48 million during the quarter, compared to analysts’ expectations of $151.96 million. As a group, equities research analysts expect that Delek Logistics Partners LP will post 2.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 10.81%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.81. Delek Logistics Partners’s payout ratio is presently 123.77%.
Separately, Zacks Investment Research raised shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, February 26th.
About Delek Logistics Partners
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 consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.
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