Delek Logistics Partners, L.P. $DKL Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its stake in Delek Logistics Partners, L.P. (NYSE:DKL) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,006 shares of the oil and gas producer’s stock after selling 9,050 shares during the period. First Trust Advisors LP’s holdings in Delek Logistics Partners were worth $3,533,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DKL. BNP Paribas Financial Markets purchased a new position in Delek Logistics Partners in the 2nd quarter valued at $50,000. Jones Financial Companies Lllp raised its position in Delek Logistics Partners by 303.3% during the 1st 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 during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Delek Logistics Partners by 245.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after acquiring an additional 1,910 shares during the period. Bank of America Corp DE lifted its stake in shares of Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after acquiring an additional 3,868 shares during the period. Finally, Motiv8 Investments LLC purchased a new stake in shares of Delek Logistics Partners in the fourth quarter valued at about $192,000. 11.75% of the stock is owned by institutional investors and hedge funds.

Delek Logistics Partners Stock Down 2.9%

DKL opened at $56.41 on Thursday. The firm has a market cap of $3.00 billion, a P/E ratio of 17.85, a PEG ratio of 0.63 and a beta of 0.46. The business’s fifty day simple moving average is $53.47 and its 200 day simple moving average is $52.22. Delek Logistics Partners, L.P. has a 52 week low of $41.72 and a 52 week high of $61.50. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last released its earnings results 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). The firm had revenue of $384.76 million during the quarter, compared to analysts’ expectations of $293.64 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. As a group, equities research analysts anticipate that Delek Logistics Partners, L.P. will post 4.12 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a $1.135 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 143.67%.

Wall Street Analysts Forecast Growth

DKL has been the subject of several analyst reports. Zacks Research raised shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. UBS Group started coverage on Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price objective on the stock. Mizuho boosted their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.40.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.