ING Groep NV Lowers Position in Delek Logistics Partners, LP (NYSE:DKL)

ING Groep NV trimmed its position in shares of Delek Logistics Partners, LP (NYSE:DKL) by 55.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,000 shares of the oil and gas producer’s stock after selling 15,000 shares during the quarter. ING Groep NV’s holdings in Delek Logistics Partners were worth $525,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners in the third quarter worth $49,000. Van ECK Associates Corp increased its holdings in shares of Delek Logistics Partners by 76.0% in the 2nd 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners in the third quarter valued at about $70,000. Sittner & Nelson LLC purchased a new stake in Delek Logistics Partners during the third quarter worth about $109,000. Finally, B. Riley Wealth Advisors Inc. grew its position in Delek Logistics Partners by 31.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock worth $563,000 after buying an additional 3,215 shares during the period. 11.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DKL. Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $45.00 in a research note 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 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners presently has a consensus rating of “Hold” and an average price target of $43.00.

Delek Logistics Partners Price Performance

Shares of Delek Logistics Partners stock opened at $38.96 on Monday. The business has a 50 day moving average price of $40.78 and a 200 day moving average price of $40.20. The company has a market capitalization of $2.01 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.12 and a beta of 2.12. Delek Logistics Partners, LP has a 1 year low of $37.02 and a 1 year high of $53.80.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.19). The company 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 quarter in the prior year, the company earned $0.80 earnings per share. As a group, research analysts expect that Delek Logistics Partners, LP will post 3.08 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a dividend of $1.10 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a dividend yield of 11.29%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 156.03%.

Insider Transactions at Delek Logistics Partners

In related news, EVP Joseph Israel bought 3,076 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average cost of $39.00 per share, with a total value of $119,964.00. Following the completion of the transaction, the executive vice president now owns 13,782 shares of the company’s stock, valued at approximately $537,498. The trade was a 28.73 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Avigal Soreq purchased 2,563 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were bought at an average cost of $39.00 per share, with a total value of $99,957.00. Following the transaction, the president now directly owns 46,758 shares of the company’s stock, valued at $1,823,562. The trade was a 5.80 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 10,934 shares of company stock worth $426,348 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

About Delek Logistics Partners

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.