Zuckerman Investment Group LLC Makes New Investment in Delek Logistics Partners, LP (NYSE:DKL)

Zuckerman Investment Group LLC bought a new stake in Delek Logistics Partners, LP (NYSE:DKL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the oil and gas producer’s stock, valued at approximately $263,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp acquired a new stake in shares of Delek Logistics Partners in the third quarter valued at about $206,000. JPMorgan Chase & Co. grew its stake in Delek Logistics Partners by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock valued at $10,678,000 after purchasing an additional 31,654 shares in the last quarter. Adams Asset Advisors LLC acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at about $2,544,000. Exchange Traded Concepts LLC raised its stake in Delek Logistics Partners by 24.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer’s stock valued at $771,000 after acquiring an additional 3,600 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Delek Logistics Partners in the fourth quarter worth $1,690,000. 11.75% of the stock is owned by institutional investors and hedge funds.

Delek Logistics Partners Stock Performance

Delek Logistics Partners stock opened at $38.03 on Thursday. The company has a 50 day moving average price of $41.62 and a 200 day moving average price of $41.17. Delek Logistics Partners, LP has a 52 week low of $34.59 and a 52 week high of $45.71. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.28 and a beta of 1.62.

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

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were issued a $1.105 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a yield of 11.62%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio is currently 147.83%.

Wall Street Analysts Forecast Growth

Separately, Raymond James boosted their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Delek Logistics Partners currently has a consensus rating of “Hold” and a consensus target price of $44.25.

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.