LPL Financial LLC Has $1.88 Million Stake in Delek Logistics Partners, LP (NYSE:DKL)

LPL Financial LLC grew its stake in shares of Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 35.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,447 shares of the oil and gas producer's stock after buying an additional 11,599 shares during the quarter. LPL Financial LLC owned about 0.09% of Delek Logistics Partners worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC lifted its position in Delek Logistics Partners by 3,838.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer's stock worth $20,134,000 after purchasing an additional 464,343 shares during the period. ING Groep NV lifted its holdings in shares of Delek Logistics Partners by 2,491.7% in the fourth quarter. ING Groep NV now owns 311,000 shares of the oil and gas producer's stock valued at $13,143,000 after buying an additional 299,000 shares during the period. Raymond James Financial Inc. bought a new position in shares of Delek Logistics Partners during the 4th quarter valued at about $6,050,000. Adams Asset Advisors LLC acquired a new position in Delek Logistics Partners in the fourth quarter worth approximately $2,544,000. Finally, GraniteShares Advisors LLC acquired a new position in shares of Delek Logistics Partners in the 4th quarter worth $2,476,000. 11.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Delek Logistics Partners currently has a consensus rating of "Hold" and a consensus target price of $44.25.

Delek Logistics Partners Price Performance

Delek Logistics Partners stock traded up $0.51 during trading hours on Friday, hitting $37.03. The company had a trading volume of 142,069 shares, compared to its average volume of 154,531. Delek Logistics Partners, LP has a fifty-two week low of $34.59 and a fifty-two week high of $45.71. The firm has a market capitalization of $1.99 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62. The firm's fifty day moving average is $40.78 and its 200-day moving average is $40.86.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its quarterly 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). The company had revenue of $209.86 million during the quarter, compared to analyst estimates of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. Analysts anticipate that Delek Logistics Partners, LP will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared 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 represents a $4.42 annualized dividend and a yield of 11.94%. The ex-dividend date was Tuesday, February 4th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.10. Delek Logistics Partners's dividend payout ratio (DPR) is 147.83%.

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.