Focus Financial Network Inc. Boosts Holdings in Delek Logistics Partners, L.P. $DKL

Focus Financial Network Inc. raised its position in shares of Delek Logistics Partners, L.P. (NYSE:DKL) by 16.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,141 shares of the oil and gas producer’s stock after acquiring an additional 1,865 shares during the period. Focus Financial Network Inc.’s holdings in Delek Logistics Partners were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Cetera Investment Advisers grew its position in shares of Delek Logistics Partners by 31.8% during the 4th quarter. Cetera Investment Advisers now owns 25,401 shares of the oil and gas producer’s stock worth $1,073,000 after buying an additional 6,125 shares in the last quarter. GraniteShares Advisors LLC boosted its stake in Delek Logistics Partners by 6.5% during the first quarter. GraniteShares Advisors LLC now owns 62,369 shares of the oil and gas producer’s stock worth $2,698,000 after buying an additional 3,780 shares during the last quarter. Adams Asset Advisors LLC grew its holdings in shares of Delek Logistics Partners by 11.8% during the 1st quarter. Adams Asset Advisors LLC now owns 67,293 shares of the oil and gas producer’s stock worth $2,911,000 after purchasing an additional 7,106 shares during the period. Novem Group increased its holdings in Delek Logistics Partners by 24.1% during the 1st quarter. Novem Group now owns 20,700 shares of the oil and gas producer’s stock worth $895,000 after purchasing an additional 4,018 shares during the period. Finally, Sharpepoint LLC purchased a new position in shares of Delek Logistics Partners in the 1st quarter valued at about $1,408,000. Institutional investors own 11.75% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles J. Brown III sold 1,134 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $42.91, for a total value of $48,659.94. Following the completion of the sale, the director directly owned 17,971 shares in the company, valued at approximately $771,135.61. The trade was a 5.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 2,134 shares of company stock valued at $93,660. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Mizuho raised their price target on Delek Logistics Partners from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.25.

Delek Logistics Partners Price Performance

Shares of DKL stock opened at $45.13 on Friday. The firm’s 50 day moving average price is $44.08 and its two-hundred day moving average price is $42.18. The stock has a market cap of $2.41 billion, a PE ratio of 15.30, a PEG ratio of 1.01 and a beta of 0.64. Delek Logistics Partners, L.P. has a 52-week low of $34.59 and a 52-week high of $48.00. The company has a debt-to-equity ratio of 69.13, a quick ratio of 0.89 and a current ratio of 0.93.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $246.35 million for the quarter, compared to analysts’ expectations of $289.07 million. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. As a group, analysts forecast that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 8th were issued a $1.115 dividend. This represents a $4.46 annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.11. Delek Logistics Partners’s payout ratio is 151.19%.

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.