Raymond James Financial Inc. Takes $6.05 Million Position in Delek Logistics Partners, LP (NYSE:DKL)

Raymond James Financial Inc. purchased a new position in Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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 Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC increased its holdings in Delek Logistics Partners by 3,838.8% during the 4th 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 last quarter. ING Groep NV increased its stake 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 worth $13,143,000 after buying an additional 299,000 shares during the last quarter. Infrastructure Capital Advisors LLC raised its holdings in Delek Logistics Partners by 18.6% in the third quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer's stock valued at $11,055,000 after acquiring an additional 39,577 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Delek Logistics Partners by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer's stock valued at $10,678,000 after acquiring an additional 31,654 shares during the last quarter. Finally, Castellan Group grew its holdings in Delek Logistics Partners by 3.8% during the 4th quarter. Castellan Group now owns 82,142 shares of the oil and gas producer's stock worth $3,471,000 after acquiring an additional 3,016 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company's stock.

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Analyst Ratings Changes

Separately, Raymond James upped their target price on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company 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 assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $44.25.

Delek Logistics Partners Trading Down 0.7 %

Delek Logistics Partners stock traded down $0.29 during mid-day trading on Friday, reaching $43.56. The company's stock had a trading volume of 100,678 shares, compared to its average volume of 144,803. Delek Logistics Partners, LP has a twelve month low of $37.02 and a twelve month high of $45.71. The business has a 50 day moving average price of $42.42 and a 200-day moving average price of $41.34. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.28 and a beta of 2.01.

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 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). The business had revenue of $209.86 million during the quarter, compared to analyst estimates of $240.05 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. On average, equities analysts expect that Delek Logistics Partners, LP will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.10. This represents a $4.42 annualized dividend and a dividend yield of 10.15%. Delek Logistics Partners's dividend payout ratio is 147.83%.

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.