Farther Finance Advisors LLC Invests $49,000 in Delek Logistics Partners, LP (NYSE:DKL)

Farther Finance Advisors LLC bought a new stake in Delek Logistics Partners, LP (NYSE:DKL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,110 shares of the oil and gas producer’s stock, valued at approximately $49,000.

Several other institutional investors have also recently added to or reduced their stakes in DKL. Future Financial Wealth Managment LLC acquired a new position in Delek Logistics Partners in the third quarter valued at $70,000. Van ECK Associates Corp increased its stake in Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after purchasing an additional 1,437 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 484,571 shares during the last quarter. HB Wealth Management LLC acquired a new position in Delek Logistics Partners in the second quarter valued at $203,000. Finally, Foundations Investment Advisors LLC purchased a new stake in Delek Logistics Partners during the third quarter valued at about $211,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Delek Logistics Partners

In other news, CFO Reuven Spiegel acquired 1,282 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were purchased at an average price of $39.00 per share, for a total transaction of $49,998.00. Following the completion of the purchase, the chief financial officer now directly owns 20,223 shares of the company’s stock, valued at $788,697. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Reuven Spiegel purchased 1,282 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were acquired at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the transaction, the chief financial officer now owns 20,223 shares of the company’s stock, valued at $788,697. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sherri Anne Brillon purchased 2,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $39.00 per share, for a total transaction of $78,000.00. Following the completion of the transaction, the director now directly owns 11,433 shares in the company, valued at approximately $445,887. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 12,934 shares of company stock worth $504,348 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Delek Logistics Partners Stock Performance

Shares of DKL opened at $38.87 on Thursday. The company has a market capitalization of $1.84 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.10 and a beta of 2.12. Delek Logistics Partners, LP has a one year low of $37.02 and a one year high of $53.80. The stock has a 50-day moving average price of $40.97 and a 200 day moving average price of $40.22.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The business had revenue of $214.07 million during the quarter, compared to analysts’ expectations of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same period in the prior year, the company posted $0.80 EPS. As a group, equities research analysts forecast that Delek Logistics Partners, LP will post 3.08 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 8th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $4.40 dividend on an annualized basis and a yield of 11.32%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Analyst Ratings Changes

A number of research firms have issued reports on DKL. Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America began coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Delek Logistics Partners presently has an average rating of “Hold” and an average price target of $43.00.

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.