CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Takes Position in Delek Logistics Partners, LP (NYSE:DKL)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,000 shares of the oil and gas producer's stock, valued at approximately $1,690,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.08% of Delek Logistics Partners as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of DKL. JPMorgan Chase & Co. raised its position in shares of Delek Logistics Partners by 14.9% in the 3rd 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 in the last quarter. Sanctuary Advisors LLC bought a new stake in Delek Logistics Partners in the second quarter worth approximately $522,000. Infrastructure Capital Advisors LLC increased its holdings in Delek Logistics Partners by 18.6% in the third quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer's stock worth $11,055,000 after purchasing an additional 39,577 shares in the last quarter. Adams Asset Advisors LLC acquired a new position in Delek Logistics Partners in the fourth quarter valued at approximately $2,544,000. Finally, Stifel Financial Corp bought a new position in shares of Delek Logistics Partners during the 3rd quarter worth approximately $206,000. Institutional investors own 11.75% of the company's stock.

Insider Activity at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin purchased 710 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $38.72 per share, with a total value of $27,491.20. Following the completion of the transaction, the chairman now directly owns 54,851 shares of the company's stock, valued at approximately $2,123,830.72. This trade represents a 1.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 4,835 shares of company stock valued at $192,184 over the last 90 days. Insiders own 1.00% of the company's stock.

Delek Logistics Partners Stock Down 0.2 %

DKL stock traded down $0.07 during midday trading on Friday, reaching $44.24. 66,600 shares of the company's stock traded hands, compared to its average volume of 92,236. The firm's fifty day moving average price is $41.22 and its 200-day moving average price is $40.77. Delek Logistics Partners, LP has a 52 week low of $37.02 and a 52 week high of $47.67. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.40 and a beta of 2.10.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The business had revenue of $214.07 million for the quarter, compared to the consensus estimate of $270.98 million. During the same period in the previous year, the firm earned $0.80 earnings per share. Analysts forecast that Delek Logistics Partners, LP will post 3.05 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 9.95%. The ex-dividend date was Friday, November 8th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $0.73. Delek Logistics Partners's dividend payout ratio (DPR) is currently 156.03%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DKL shares. Truist Financial boosted their target price on shares of 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 shares of Delek Logistics Partners in a report on Thursday, October 17th. They set an "underperform" rating and a $36.00 price objective on the stock. Finally, StockNews.com downgraded Delek Logistics Partners from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. One equities research 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. According to MarketBeat.com, Delek Logistics Partners presently has a consensus rating of "Hold" and a consensus price target 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.