Novem Group Has $976,000 Holdings in Delek Logistics Partners, L.P. $DKL

Novem Group lifted its holdings in Delek Logistics Partners, L.P. (NYSE:DKL) by 9.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,719 shares of the oil and gas producer’s stock after acquiring an additional 2,019 shares during the period. Novem Group’s holdings in Delek Logistics Partners were worth $976,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of DKL. Jones Financial Companies Lllp grew its stake in Delek Logistics Partners by 303.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 910 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Delek Logistics Partners in the first quarter worth about $53,000. HB Wealth Management LLC bought a new position in shares of Delek Logistics Partners in the first quarter worth about $250,000. Independent Advisor Alliance bought a new position in shares of Delek Logistics Partners in the first quarter worth about $295,000. Finally, Zuckerman Investment Group LLC lifted its holdings in shares of Delek Logistics Partners by 33.3% in the first quarter. Zuckerman Investment Group LLC now owns 8,000 shares of the oil and gas producer’s stock worth $346,000 after acquiring an additional 2,000 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Delek Logistics Partners

In other news, Director Charles J. Brown III sold 1,134 shares of the firm’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 transaction of $48,659.94. Following the completion of the sale, the director owned 17,971 shares of the company’s stock, valued at $771,135.61. This trade represents a 5.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 2,134 shares of company stock worth $93,660. Company insiders own 1.00% of the company’s stock.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $45.60 on Friday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.03 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 quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 69.13. The firm has a 50 day moving average of $44.24 and a 200-day moving average of $42.35.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data 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 company had revenue of $246.35 million during the quarter, compared to the consensus estimate of $289.07 million. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. On average, equities analysts forecast that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were given a dividend of $1.115 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend was Friday, August 8th. This represents a $4.46 annualized dividend and a dividend yield of 9.8%. Delek Logistics Partners’s payout ratio is 151.19%.

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.