Lindbrook Capital LLC Makes New Investment in Delek Logistics Partners, LP (NYSE:DKL)

Lindbrook Capital LLC acquired a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,000 shares of the oil and gas producer’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DKL. Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners in the third quarter valued at approximately $49,000. Van ECK Associates Corp increased its position in shares of Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after acquiring an additional 1,437 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Delek Logistics Partners in the 3rd quarter valued at $70,000. Sittner & Nelson LLC acquired a new position in shares of Delek Logistics Partners during the 3rd quarter valued at $109,000. Finally, B. Riley Wealth Advisors Inc. boosted its position in Delek Logistics Partners by 31.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock worth $563,000 after purchasing an additional 3,215 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on DKL. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $45.00 in a report on Wednesday, August 28th. Finally, Bank of America assumed coverage on Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $43.00.

Delek Logistics Partners Price Performance

Shares of Delek Logistics Partners stock opened at $38.35 on Monday. Delek Logistics Partners, LP has a 1-year low of $37.02 and a 1-year high of $53.80. The business has a 50-day moving average of $41.12 and a 200-day moving average of $40.24. The company has a market capitalization of $1.81 billion, a PE ratio of 13.60, a P/E/G ratio of 1.02 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 169.43% and a net margin of 13.15%. The business had revenue of $214.07 million for the quarter, compared to analysts’ expectations of $270.98 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, equities analysts expect that Delek Logistics Partners, LP will post 3.41 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 8th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 11.47%. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Insider Buying and Selling at Delek Logistics Partners

In related news, President Avigal Soreq bought 2,563 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was bought at an average price of $39.00 per share, with a total value of $99,957.00. Following the transaction, the president now owns 46,758 shares of the company’s stock, valued at approximately $1,823,562. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, President Avigal Soreq purchased 2,563 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the purchase, the president now owns 46,758 shares of the company’s stock, valued at approximately $1,823,562. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherri Anne Brillon acquired 2,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the acquisition, the director now owns 11,433 shares of the company’s stock, valued at $445,887. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 12,934 shares of company stock worth $504,348 in the last ninety days. 1.00% of the stock is owned by insiders.

About Delek Logistics Partners

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.