Raymond James Financial Inc. Takes Position in Delek Logistics Partners, LP (NYSE:DKL)

Raymond James Financial Inc. acquired a new position in Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 143,172 shares of the oil and gas producer's stock, valued at approximately $6,050,000. Raymond James Financial Inc. owned approximately 0.28% of Delek Logistics Partners as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in shares of Delek Logistics Partners in the 4th quarter worth approximately $64,000. Van ECK Associates Corp lifted its stake 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 valued at $205,000 after buying an additional 2,074 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Delek Logistics Partners in the third quarter worth about $206,000. Apollon Wealth Management LLC increased its position in shares of Delek Logistics Partners by 19.1% in the fourth quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer's stock worth $323,000 after acquiring an additional 1,223 shares in the last quarter. Finally, Focus Financial Network Inc. raised its holdings in shares of Delek Logistics Partners by 5.6% during the fourth quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer's stock valued at $429,000 after acquiring an additional 542 shares during the period. Institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Price Performance

DKL traded up $0.11 during trading on Tuesday, reaching $39.76. 120,709 shares of the stock traded hands, compared to its average volume of 156,666. The stock's 50-day simple moving average is $40.39 and its two-hundred day simple moving average is $40.65. Delek Logistics Partners, LP has a fifty-two week low of $34.59 and a fifty-two week high of $45.71. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.06). The business had revenue of $209.86 million for the quarter, compared to the consensus estimate of $240.05 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. Research analysts anticipate that Delek Logistics Partners, LP will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be paid a dividend of $1.11 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.44 annualized dividend and a yield of 11.17%. Delek Logistics Partners's dividend payout ratio is presently 147.83%.

Analysts Set New Price Targets

Separately, Raymond James upped their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.