California Public Employees Retirement System Trims Position in Delek Logistics Partners LP (NYSE:DKL)

California Public Employees Retirement System lessened its holdings in shares of Delek Logistics Partners LP (NYSE:DKL) by 4.9% in the third quarter, Holdings Channel.com reports. The fund owned 11,320 shares of the oil and gas producer’s stock after selling 585 shares during the period. California Public Employees Retirement System’s holdings in Delek Logistics Partners were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DKL. Invesco Ltd. bought a new stake in Delek Logistics Partners in the second quarter valued at $14,523,000. Virtus ETF Advisers LLC purchased a new position in Delek Logistics Partners during the 2nd quarter valued at $2,562,000. Tortoise Capital Advisors L.L.C. raised its holdings in Delek Logistics Partners by 12.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 323,720 shares of the oil and gas producer’s stock worth $10,359,000 after purchasing an additional 35,793 shares in the last quarter. First Trust Advisors LP raised its holdings in Delek Logistics Partners by 9.7% in the 2nd quarter. First Trust Advisors LP now owns 191,553 shares of the oil and gas producer’s stock worth $6,130,000 after purchasing an additional 16,937 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Delek Logistics Partners in the 2nd quarter worth about $325,000. 21.67% of the stock is owned by institutional investors.

DKL stock opened at $31.48 on Friday. Delek Logistics Partners LP has a fifty-two week low of $27.01 and a fifty-two week high of $34.12. The company has a market capitalization of $783.58 million, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 5.58 and a beta of 0.98. The business’s 50 day moving average price is $31.82 and its two-hundred day moving average price is $31.41.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.13. Delek Logistics Partners had a negative return on equity of 62.69% and a net margin of 14.60%. The company had revenue of $137.56 million during the quarter, compared to analysts’ expectations of $160.77 million. Research analysts forecast that Delek Logistics Partners LP will post 2.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were issued a $0.88 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 1st. This represents a $3.52 dividend on an annualized basis and a yield of 11.18%. Delek Logistics Partners’s dividend payout ratio is 132.83%.

A number of equities research analysts have recently weighed in on DKL shares. Zacks Investment Research raised shares of Delek Logistics Partners from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a research note on Thursday, November 7th. ValuEngine raised shares of Delek Logistics Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday.

About Delek Logistics Partners

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.

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Institutional Ownership by Quarter for Delek Logistics Partners (NYSE:DKL)

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