Delek Logistics Partners, LP (NYSE:DKL) Shares Sold by ING Groep NV

ING Groep NV trimmed its stake in Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 55.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,000 shares of the oil and gas producer's stock after selling 15,000 shares during the period. ING Groep NV's holdings in Delek Logistics Partners were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Westwood Holdings Group Inc. bought a new position in Delek Logistics Partners during the 1st quarter worth about $12,656,000. B. Riley Wealth Advisors Inc. raised its stake in Delek Logistics Partners by 31.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer's stock worth $563,000 after buying an additional 3,215 shares in the last quarter. HB Wealth Management LLC purchased a new stake in Delek Logistics Partners during the second quarter worth $203,000. IFG Advisory LLC bought a new stake in Delek Logistics Partners during the 2nd quarter valued at $640,000. Finally, Van ECK Associates Corp increased its holdings in shares of Delek Logistics Partners by 76.0% in the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer's stock valued at $135,000 after acquiring an additional 1,437 shares during the period. 11.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DKL has been the topic of a number of recent analyst reports. Bank of America assumed coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $36.00 price target on the stock. Citigroup raised shares of Delek Logistics Partners from a "neutral" rating to a "buy" rating and upped their price target for the company from $44.00 to $45.00 in a report on Wednesday, August 28th. Truist Financial lifted their target price on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a report on Monday. Finally, StockNews.com cut Delek Logistics Partners from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $44.00.

Delek Logistics Partners Trading Up 0.1 %

DKL stock traded up $0.04 during midday trading on Monday, reaching $39.00. The stock had a trading volume of 202,914 shares, compared to its average volume of 109,546. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $53.80. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.12 and a beta of 2.12. The company's fifty day simple moving average is $40.78 and its 200 day simple moving average is $40.21.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $270.98 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. Sell-side analysts predict that Delek Logistics Partners, LP will post 3.08 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a $1.10 dividend. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 11.28%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners's payout ratio is 156.03%.

Insider Activity

In related news, CFO Reuven Spiegel bought 3,885 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the acquisition, the chief financial officer now owns 20,163 shares in the company, valued at approximately $785,953.74. This trade represents a 23.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Israel bought 3,076 shares of the business's stock in a transaction that occurred on Thursday, October 10th. The shares were purchased at an average price of $39.00 per share, for a total transaction of $119,964.00. Following the completion of the purchase, the executive vice president now directly owns 13,782 shares of the company's stock, valued at approximately $537,498. This trade represents a 28.73 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,934 shares of company stock valued at $426,348. Company insiders own 1.00% of the company's stock.

About Delek Logistics Partners

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.