Bank of Montreal Can Purchases Shares of 421,653 Delek Logistics Partners, LP (NYSE:DKL)

Bank of Montreal Can acquired a new position in Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 421,653 shares of the oil and gas producer's stock, valued at approximately $17,819,000. Bank of Montreal Can owned approximately 0.82% of Delek Logistics Partners as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Delek Logistics Partners by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer's stock worth $10,678,000 after acquiring an additional 31,654 shares during the last quarter. Summit Trail Advisors LLC acquired a new position in shares of Delek Logistics Partners during the 4th quarter worth approximately $482,000. Raymond James Financial Inc. purchased a new stake in Delek Logistics Partners in the 4th quarter valued at approximately $6,050,000. Strategic Financial Concepts LLC grew its holdings in Delek Logistics Partners by 3,838.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer's stock valued at $20,134,000 after buying an additional 464,343 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Delek Logistics Partners during the 4th quarter valued at $621,000. 11.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Raymond James upped their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $44.25.

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Delek Logistics Partners Stock Performance

NYSE DKL traded up $0.44 during mid-day trading on Tuesday, reaching $37.43. 254,491 shares of the stock were exchanged, compared to its average volume of 152,880. The stock has a market capitalization of $2.01 billion, a PE ratio of 13.27, a PEG ratio of 1.28 and a beta of 1.62. Delek Logistics Partners, LP has a 1-year low of $34.59 and a 1-year high of $45.71. The business's fifty day simple moving average is $41.19 and its 200 day simple moving average is $41.01.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.06). The business had revenue of $209.86 million for the quarter, compared to analyst estimates of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. On average, analysts anticipate that Delek Logistics Partners, LP will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were issued a $1.105 dividend. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, February 4th. This represents a $4.42 annualized dividend and a yield of 11.81%. Delek Logistics Partners's payout ratio is 147.83%.

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.