JPMorgan Chase & Co. Reduces Position in Delek Logistics Partners, LP (NYSE:DKL)

JPMorgan Chase & Co. decreased its holdings in Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 32.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,556 shares of the oil and gas producer's stock after selling 79,687 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Delek Logistics Partners worth $6,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC bought a new position in shares of Delek Logistics Partners in the 4th quarter valued at $64,000. Stifel Financial Corp purchased a new position in Delek Logistics Partners during the 3rd quarter worth $206,000. Van ECK Associates Corp increased its holdings in Delek Logistics Partners by 74.6% during the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer's stock worth $205,000 after buying an additional 2,074 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Delek Logistics Partners by 19.1% during the 4th 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 in the last quarter. Finally, Focus Financial Network Inc. raised its position 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 worth $429,000 after buying an additional 542 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company's stock.

Delek Logistics Partners Trading Up 1.4 %

DKL traded up $0.51 during trading hours on Friday, hitting $37.03. The company's stock had a trading volume of 142,069 shares, compared to its average volume of 154,744. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.28 and a beta of 1.62. The business's 50-day moving average price is $40.78 and its 200-day moving average price is $40.86. Delek Logistics Partners, LP has a 12 month low of $34.59 and a 12 month high of $45.71.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.06). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The company had revenue of $209.86 million for the quarter, compared to analysts' expectations of $240.05 million. On average, analysts forecast that Delek Logistics Partners, LP will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were paid a dividend of $1.105 per share. This represents a $4.42 annualized dividend and a yield of 11.94%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Tuesday, February 4th. Delek Logistics Partners's payout ratio is presently 147.83%.

Wall Street Analyst Weigh In

Separately, Raymond James lifted their target price on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. 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 company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $44.25.

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.