GraniteShares Advisors LLC Acquires New Position in Delek Logistics Partners, LP (NYSE:DKL)

GraniteShares Advisors LLC acquired a new stake in Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 58,589 shares of the oil and gas producer's stock, valued at approximately $2,476,000. Delek Logistics Partners makes up about 1.6% of GraniteShares Advisors LLC's portfolio, making the stock its 16th largest holding. GraniteShares Advisors LLC owned approximately 0.11% of Delek Logistics Partners at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Focus Financial Network Inc. raised its stake in shares of Delek Logistics Partners by 5.6% in the fourth quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer's stock valued at $429,000 after acquiring an additional 542 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners in the third quarter valued at $49,000. Apollon Wealth Management LLC increased its holdings 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 buying an additional 1,223 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Delek Logistics Partners in the fourth quarter valued at $64,000. Finally, Van ECK Associates Corp increased its holdings in Delek Logistics Partners by 74.6% in the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer's stock valued at $205,000 after buying an additional 2,074 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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Delek Logistics Partners Stock Performance

Shares of DKL stock traded up $1.22 during mid-day trading on Friday, hitting $42.89. 151,138 shares of the stock were exchanged, compared to its average volume of 162,498. The stock's fifty day simple moving average is $42.38 and its two-hundred day simple moving average is $41.01. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.28 and a beta of 2.10. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $45.71.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued 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 firm had revenue of $209.86 million for the quarter, compared to analysts' expectations 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, research analysts expect that Delek Logistics Partners, LP will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $4.42 annualized dividend and a dividend yield of 10.31%. Delek Logistics Partners's dividend payout ratio (DPR) is presently 147.83%.

Insiders Place Their Bets

In other news, Chairman Ezra Uzi Yemin acquired 3,750 shares of the company's stock in a transaction on Monday, December 16th. The shares were bought at an average price of $39.95 per share, with a total value of $149,812.50. Following the completion of the acquisition, the chairman now owns 162,217 shares in the company, valued at $6,480,569.15. This trade represents a 2.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DKL. StockNews.com lowered Delek Logistics Partners from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Raymond James increased their target price on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, Truist Financial increased their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $44.25.

Delek Logistics Partners Company 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.