Raymond James & Associates Sells 2,781 Shares of Delek Logistics Partners, LP (NYSE:DKL)

Raymond James & Associates cut its holdings in shares of Delek Logistics Partners, LP (NYSE:DKL) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,395 shares of the oil and gas producer’s stock after selling 2,781 shares during the period. Raymond James & Associates’ holdings in Delek Logistics Partners were worth $1,355,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DKL. Alps Advisors Inc. boosted its position in Delek Logistics Partners by 13.1% during the 3rd quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock worth $64,306,000 after buying an additional 177,242 shares during the period. Infrastructure Capital Advisors LLC boosted its position in Delek Logistics Partners by 343.5% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 223,208 shares of the oil and gas producer’s stock worth $9,368,000 after buying an additional 172,874 shares during the period. JPMorgan Chase & Co. boosted its position in Delek Logistics Partners by 15.6% during the 1st quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer’s stock worth $8,613,000 after buying an additional 26,425 shares during the period. First Trust Advisors LP boosted its position in Delek Logistics Partners by 27.6% during the 1st quarter. First Trust Advisors LP now owns 89,835 shares of the oil and gas producer’s stock worth $3,952,000 after buying an additional 19,430 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Delek Logistics Partners during the 2nd quarter worth approximately $652,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Delek Logistics Partners Stock Up 0.9 %

NYSE:DKL opened at $38.36 on Friday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 13.23 and a beta of 2.07. The company has a fifty day moving average of $41.63 and a 200-day moving average of $44.26. Delek Logistics Partners, LP has a twelve month low of $36.50 and a twelve month high of $58.81.

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

Delek Logistics Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, March 1st were paid a $0.245 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.98 annualized dividend and a dividend yield of 2.55%. Delek Logistics Partners’s payout ratio is 145.52%.

Analyst Ratings Changes

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

Delek Logistics Partners 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.