Summit Trail Advisors LLC Takes Position in Delek Logistics Partners, LP (NYSE:DKL)

Summit Trail Advisors LLC bought a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 11,400 shares of the oil and gas producer's stock, valued at approximately $482,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at approximately $49,000. Sittner & Nelson LLC purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at approximately $109,000. Millburn Ridgefield Corp purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at approximately $131,000. Stifel Financial Corp purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at approximately $206,000. Finally, Foundations Investment Advisors LLC purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Stock Up 1.6 %

Shares of DKL traded up $0.68 during midday trading on Friday, reaching $41.83. The company had a trading volume of 108,633 shares, compared to its average volume of 152,594. Delek Logistics Partners, LP has a 1-year low of $37.02 and a 1-year high of $46.50. The stock has a market cap of $2.15 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.34 and a beta of 2.10. The firm has a 50 day simple moving average of $42.07 and a 200-day simple moving average of $40.94.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were paid a $1.105 dividend. The ex-dividend date was Tuesday, February 4th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.10. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.57%. Delek Logistics Partners's dividend payout ratio (DPR) is 156.74%.

Analysts Set New Price Targets

DKL has been the topic of a number of recent analyst reports. Truist Financial increased their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, November 18th. StockNews.com downgraded Delek Logistics Partners from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Raymond James increased their price objective on 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 analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Delek Logistics Partners currently has an average rating of "Hold" and an average price target of $44.25.

Insiders Place Their Bets

In related news, Chairman Ezra Uzi Yemin bought 3,750 shares of the business's stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $39.95 per share, with a total value of $149,812.50. Following the purchase, the chairman now directly owns 162,217 shares of the company's stock, valued at $6,480,569.15. The trade was a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company's stock.

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.