Summit Trail Advisors LLC Invests $482,000 in Delek Logistics Partners, LP (NYSE:DKL)

Summit Trail Advisors LLC purchased a new stake in Delek Logistics Partners, LP (NYSE:DKL) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 11,400 shares of the oil and gas producer’s stock, valued at approximately $482,000.

A number of other institutional investors have also modified their holdings of DKL. Apollon Wealth Management LLC boosted its stake in Delek Logistics Partners by 19.1% in the fourth quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 1,223 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Delek Logistics Partners by 3,838.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after purchasing an additional 464,343 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Delek Logistics Partners during the 4th quarter valued at approximately $1,690,000. Exchange Traded Concepts LLC grew its stake in Delek Logistics Partners by 24.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer’s stock worth $771,000 after buying an additional 3,600 shares during the last quarter. Finally, Adams Asset Advisors LLC acquired a new stake in Delek Logistics Partners in the fourth quarter worth $2,544,000. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Down 0.3 %

DKL stock opened at $42.05 on Wednesday. The company has a 50-day simple moving average of $41.92 and a 200 day simple moving average of $40.93. The company has a market capitalization of $2.16 billion, a P/E ratio of 14.91, a PEG ratio of 1.34 and a beta of 2.10. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $46.50.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were paid a $1.105 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.51%. The ex-dividend date of this dividend was Tuesday, February 4th. Delek Logistics Partners’s dividend payout ratio is currently 156.74%.

Insider Activity

In other news, Chairman Ezra Uzi Yemin acquired 3,750 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the acquisition, the chairman now directly owns 162,217 shares in the company, valued at $6,480,569.15. This represents a 2.37 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 4,835 shares of company stock worth $192,184 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target for the company. StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James raised their price target on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Truist Financial boosted their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.25.

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.