JPMorgan Chase & Co. Buys 31,654 Shares of Delek Logistics Partners, LP (NYSE:DKL)

JPMorgan Chase & Co. increased its position in Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 14.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,243 shares of the oil and gas producer's stock after purchasing an additional 31,654 shares during the period. JPMorgan Chase & Co. owned approximately 0.47% of Delek Logistics Partners worth $10,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $49,000. Future Financial Wealth Managment LLC bought a new position in shares of Delek Logistics Partners during the 3rd quarter worth approximately $70,000. Sittner & Nelson LLC purchased a new position in shares of Delek Logistics Partners in the 3rd quarter worth approximately $109,000. Millburn Ridgefield Corp bought a new position in shares of Delek Logistics Partners in the third quarter valued at approximately $131,000. Finally, Stifel Financial Corp purchased a new stake in shares of Delek Logistics Partners during the third quarter valued at approximately $206,000. Institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Trading Up 0.3 %

Shares of DKL stock opened at $42.33 on Monday. Delek Logistics Partners, LP has a 12 month low of $37.02 and a 12 month high of $47.67. The stock has a market capitalization of $2.18 billion, a P/E ratio of 15.01, a PEG ratio of 1.15 and a beta of 2.10. The firm's 50 day moving average is $40.12 and its 200 day moving average is $40.49.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.19). The company had revenue of $214.07 million for the quarter, compared to analysts' expectations of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same period in the previous year, the firm earned $0.80 EPS. On average, equities analysts predict that Delek Logistics Partners, LP will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 10.39%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $0.73. Delek Logistics Partners's dividend payout ratio (DPR) is 156.03%.

Insider Activity at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin bought 3,750 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the transaction, the chairman now owns 162,217 shares of the company's stock, valued at approximately $6,480,569.15. The trade was a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders acquired 4,835 shares of company stock valued at $192,184. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DKL. Truist Financial raised their target price on 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 initiated coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $36.00 target price for the company. Finally, StockNews.com downgraded Delek Logistics Partners from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.