GraniteShares Advisors LLC Makes New $2.48 Million Investment in Delek Logistics Partners, LP (NYSE:DKL)

GraniteShares Advisors LLC bought a new stake in shares of Delek Logistics Partners, LP (NYSE:DKL) during the fourth quarter, Holdings Channel.com reports. The fund bought 58,589 shares of the oil and gas producer’s stock, valued at approximately $2,476,000. Delek Logistics Partners comprises 1.6% of GraniteShares Advisors LLC’s holdings, making the stock its 16th largest holding.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in shares of Delek Logistics Partners during the 3rd quarter valued at about $49,000. Venturi Wealth Management LLC acquired a new position in shares of Delek Logistics Partners during the 4th quarter worth approximately $64,000. Sittner & Nelson LLC acquired a new position in shares of Delek Logistics Partners during the 3rd quarter worth approximately $109,000. Millburn Ridgefield Corp acquired a new position in shares of Delek Logistics Partners during the 3rd quarter worth approximately $131,000. Finally, Stifel Financial Corp acquired a new position in Delek Logistics Partners in the third quarter valued at approximately $206,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin bought 3,750 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the purchase, the chairman now owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. This represents a 2.37 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

DKL has been the topic of a number of recent analyst reports. Raymond James upped their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Truist Financial boosted 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.25.

Delek Logistics Partners Trading Up 3.5 %

Delek Logistics Partners stock opened at $41.43 on Wednesday. Delek Logistics Partners, LP has a twelve month low of $37.02 and a twelve month high of $46.50. The stock’s fifty day simple moving average is $42.27 and its 200-day simple moving average is $40.97. The firm has a market capitalization of $2.13 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.28 and a beta of 2.10.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The company had revenue of $209.86 million for the quarter, compared to analysts’ expectations of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. Sell-side analysts predict that Delek Logistics Partners, LP will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were paid a dividend of $1.105 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, February 4th. This represents a $4.42 annualized dividend and a dividend yield of 10.67%. Delek Logistics Partners’s dividend payout ratio is 156.74%.

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.