Infrastructure Capital Advisors LLC Raises Stock Position in Delek Logistics Partners, LP (NYSE:DKL)

Infrastructure Capital Advisors LLC raised its position in Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 18.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,863 shares of the oil and gas producer's stock after acquiring an additional 39,577 shares during the quarter. Delek Logistics Partners makes up about 1.5% of Infrastructure Capital Advisors LLC's holdings, making the stock its 16th biggest holding. Infrastructure Capital Advisors LLC owned about 0.54% of Delek Logistics Partners worth $11,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new stake in shares of Delek Logistics Partners during the 3rd quarter worth $49,000. Future Financial Wealth Managment LLC purchased a new stake in Delek Logistics Partners during the 3rd quarter worth about $70,000. Sittner & Nelson LLC purchased a new stake in Delek Logistics Partners during the 3rd quarter worth about $109,000. Van ECK Associates Corp boosted its position in shares of Delek Logistics Partners by 76.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer's stock worth $135,000 after acquiring an additional 1,437 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in shares of Delek Logistics Partners in the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Delek Logistics Partners Trading Up 0.7 %

Shares of DKL traded up $0.30 during mid-day trading on Friday, hitting $40.34. 188,791 shares of the company's stock were exchanged, compared to its average volume of 110,834. The business's 50 day moving average is $40.23 and its two-hundred day moving average is $40.23. The firm has a market capitalization of $2.08 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.15 and a beta of 2.12. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $53.80.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The company had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. During the same period in the previous year, the firm posted $0.80 EPS. On average, equities research analysts forecast that Delek Logistics Partners, LP will post 3.08 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a dividend of $1.10 per share. The ex-dividend date was Friday, November 8th. This represents a $4.40 dividend on an annualized basis and a yield of 10.91%. This is an increase from Delek Logistics Partners's previous quarterly dividend of $0.73. Delek Logistics Partners's dividend payout ratio is presently 156.03%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, President Avigal Soreq acquired 2,563 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The shares were purchased at an average price of $39.00 per share, with a total value of $99,957.00. Following the completion of the acquisition, the president now directly owns 46,758 shares of the company's stock, valued at approximately $1,823,562. The trade was a 5.80 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Ezra Uzi Yemin acquired 710 shares of the business's stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $38.72 per share, with a total value of $27,491.20. Following the transaction, the chairman now directly owns 54,851 shares of the company's stock, valued at $2,123,830.72. This represents a 1.31 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,759 shares of company stock worth $302,402. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America began coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They set an "underperform" rating and a $36.00 target price for the company. Truist Financial boosted their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, November 18th. StockNews.com downgraded shares of Delek Logistics Partners from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Citigroup raised shares of Delek Logistics Partners from a "neutral" rating to a "buy" rating and boosted their price target for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $44.00.

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.