Strategic Financial Concepts LLC Buys 464,343 Shares of Delek Logistics Partners, LP (NYSE:DKL)

Strategic Financial Concepts LLC increased its position in shares of Delek Logistics Partners, LP (NYSE:DKL - Free Report) by 3,838.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 476,439 shares of the oil and gas producer's stock after buying an additional 464,343 shares during the period. Strategic Financial Concepts LLC owned 0.93% of Delek Logistics Partners worth $20,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC bought a new stake in Delek Logistics Partners in the third quarter valued at $49,000. Sittner & Nelson LLC acquired a new stake in shares of Delek Logistics Partners in the 3rd quarter valued at about $109,000. Millburn Ridgefield Corp bought a new stake in Delek Logistics Partners in the 3rd quarter valued at about $131,000. Stifel Financial Corp acquired a new position in Delek Logistics Partners during the 3rd quarter worth approximately $206,000. Finally, Foundations Investment Advisors LLC bought a new position in Delek Logistics Partners in the third quarter worth approximately $211,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DKL shares. Bank of America assumed coverage on Delek Logistics Partners in a report on Thursday, October 17th. They set an "underperform" rating and a $36.00 price objective for the company. Truist Financial boosted their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Raymond James lifted their price objective on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Delek Logistics Partners from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. 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 data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $44.25.

Delek Logistics Partners Stock Down 0.3 %

NYSE DKL traded down $0.11 on Tuesday, reaching $42.05. The company had a trading volume of 123,281 shares, compared to its average volume of 155,992. The stock has a market capitalization of $2.16 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.34 and a beta of 2.10. The company's fifty day moving average is $41.92 and its 200 day moving average is $40.93. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $46.50.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th will be issued a $1.105 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $4.42 annualized dividend and a dividend yield of 10.51%. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.10. Delek Logistics Partners's dividend payout ratio is currently 156.74%.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $39.95 per share, with a total value of $149,812.50. Following the completion of the transaction, the chairman now owns 162,217 shares of the company's stock, valued at $6,480,569.15. The trade was a 2.37 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 4,835 shares of company stock valued at $192,184 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Delek Logistics Partners Company 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.