Delek Logistics Partners, L.P. $DKL Stock Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC reduced its stake in Delek Logistics Partners, L.P. (NYSE:DKL) by 21.6% during the third quarter, HoldingsChannel reports. The firm owned 48,331 shares of the oil and gas producer’s stock after selling 13,301 shares during the quarter. Delek Logistics Partners accounts for about 1.7% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 19th largest holding. GraniteShares Advisors LLC’s holdings in Delek Logistics Partners were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Wyoming bought a new stake in shares of Delek Logistics Partners during the 1st quarter valued at approximately $67,000. Avior Wealth Management LLC bought a new position in Delek Logistics Partners in the 2nd quarter valued at approximately $206,000. HB Wealth Management LLC bought a new position in Delek Logistics Partners in the 1st quarter valued at approximately $216,000. Gateway Wealth Partners LLC bought a new position in Delek Logistics Partners in the 1st quarter valued at approximately $222,000. Finally, Tidal Investments LLC boosted its position in Delek Logistics Partners by 60.9% in the second quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock valued at $379,000 after buying an additional 2,786 shares in the last quarter. 11.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research cut shares of Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. Finally, UBS Group increased their price target on Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.60.

Delek Logistics Partners Trading Down 2.0%

Shares of DKL stock opened at $54.95 on Tuesday. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.73 and a beta of 0.47. The business’s 50-day moving average price is $55.78 and its 200-day moving average price is $53.32. Delek Logistics Partners, L.P. has a 12 month low of $42.82 and a 12 month high of $61.50.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The business had revenue of $384.76 million during the quarter, compared to the consensus estimate of $293.64 million. On average, sell-side analysts predict that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Tuesday, November 3rd will be given a $1.14 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.1350. The ex-dividend date is Tuesday, November 3rd. This represents a $4.56 annualized dividend and a yield of 8.3%. Delek Logistics Partners’s dividend payout ratio is currently 158.19%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, EVP Mark Hobbs purchased 4,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the executive vice president owned 24,125 shares of the company’s stock, valued at approximately $1,206,250. The trade was a 19.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Ezra Yemin purchased 6,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $50.00 per share, with a total value of $300,000.00. Following the purchase, the chairman directly owned 168,217 shares of the company’s stock, valued at approximately $8,410,850. The trade was a 3.70% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 15,000 shares of company stock worth $750,000. 1.00% of the stock is currently owned by insiders.

Delek Logistics Partners Company Profile

Delek Logistics Partners, L.P. (NYSE: DKL) is a master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics’ operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.