Infrastructure Capital Advisors LLC Raises Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL)

Infrastructure Capital Advisors LLC boosted its holdings in shares of Delek Logistics Partners, LP (NYSE:DKL) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 252,863 shares of the oil and gas producer’s stock after purchasing an additional 39,577 shares during the quarter. Delek Logistics Partners makes up 1.5% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 16th largest position. Infrastructure Capital Advisors LLC owned about 0.54% of Delek Logistics Partners worth $11,055,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners during the third quarter worth approximately $49,000. Van ECK Associates Corp lifted its position in shares of 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 acquiring an additional 1,437 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Delek Logistics Partners in the third quarter valued at approximately $70,000. Sittner & Nelson LLC purchased a new position in shares of Delek Logistics Partners in the third quarter valued at approximately $109,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Delek Logistics Partners by 31.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after acquiring an additional 3,215 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Reuven Spiegel acquired 1,282 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was acquired at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the purchase, the chief financial officer now owns 20,223 shares of the company’s stock, valued at $788,697. This represents a 6.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Ezra Uzi Yemin acquired 710 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $38.72 per share, with a total value of $27,491.20. Following the completion of the purchase, the chairman now directly owns 54,851 shares of the company’s stock, valued at approximately $2,123,830.72. This represents a 1.31 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 7,759 shares of company stock valued at $302,402 over the last quarter. 1.00% of the stock is owned by insiders.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $40.04 on Friday. Delek Logistics Partners, LP has a one year low of $37.02 and a one year high of $53.80. The stock has a market cap of $2.06 billion, a PE ratio of 14.20, a P/E/G ratio of 1.15 and a beta of 2.12. The stock has a 50 day moving average price of $40.28 and a 200 day moving average price of $40.22.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results 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 business had revenue of $214.07 million for the quarter, compared to analyst estimates of $270.98 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. During the same period last year, the business earned $0.80 EPS. As a group, analysts predict 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 announced 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $4.40 annualized dividend and a yield of 10.99%. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DKL shares. Truist Financial raised their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Bank of America assumed coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price on the stock. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $45.00 in a report on Wednesday, August 28th. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.00.

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.