According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “
Several other equities analysts also recently issued reports on DKL. ValuEngine raised shares of Delek Logistics Partners from a strong sell rating to a sell rating in a report on Tuesday, December 3rd. Wells Fargo & Co downgraded shares of Delek Logistics Partners from an equal weight rating to an underweight rating and set a $33.00 price target for the company. in a report on Tuesday, January 7th.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.885 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.54 annualized dividend and a dividend yield of 11.86%. Delek Logistics Partners’s payout ratio is 133.58%.
In other news, Director Francis C. D’andrea sold 809 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $32.06, for a total transaction of $25,936.54. Following the completion of the transaction, the director now owns 10,575 shares of the company’s stock, valued at $339,034.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Several institutional investors and hedge funds have recently made changes to their positions in DKL. First Trust Advisors LP raised its stake in shares of Delek Logistics Partners by 6.6% during the first quarter. First Trust Advisors LP now owns 174,616 shares of the oil and gas producer’s stock valued at $5,663,000 after purchasing an additional 10,804 shares in the last quarter. Arrow Investment Advisors LLC raised its stake in shares of Delek Logistics Partners by 14.6% during the third quarter. Arrow Investment Advisors LLC now owns 14,039 shares of the oil and gas producer’s stock valued at $439,000 after purchasing an additional 1,789 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Delek Logistics Partners by 27.4% during the fourth quarter. California Public Employees Retirement System now owns 14,420 shares of the oil and gas producer’s stock valued at $461,000 after purchasing an additional 3,100 shares in the last quarter. FMR LLC raised its stake in shares of Delek Logistics Partners by 130.3% during the fourth quarter. FMR LLC now owns 153,601 shares of the oil and gas producer’s stock valued at $4,909,000 after purchasing an additional 86,901 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Delek Logistics Partners by 16.9% during the fourth quarter. Raymond James & Associates now owns 22,201 shares of the oil and gas producer’s stock valued at $710,000 after purchasing an additional 3,209 shares in the last quarter. 21.79% of the stock is owned by institutional investors.
Delek Logistics Partners Company Profile
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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