Apollon Wealth Management LLC Acquires Shares of 6,416 Delek Logistics Partners, LP (NYSE:DKL)

Apollon Wealth Management LLC acquired a new stake in Delek Logistics Partners, LP (NYSE:DKL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,416 shares of the oil and gas producer’s stock, valued at approximately $281,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners in the third quarter valued at about $49,000. Van ECK Associates Corp increased its position in shares of Delek Logistics Partners by 76.0% during 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 during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners during the third quarter worth about $70,000. Sittner & Nelson LLC purchased a new stake in shares of Delek Logistics Partners during the third quarter worth about $109,000. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Delek Logistics Partners by 31.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock worth $563,000 after acquiring an additional 3,215 shares during the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DKL has been the topic of a number of analyst reports. Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America initiated coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Delek Logistics Partners has a consensus rating of “Hold” and an average price target of $43.00.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $38.96 on Monday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.12 and a beta of 2.12. Delek Logistics Partners, LP has a one year low of $37.02 and a one year high of $53.80. The stock has a 50-day simple moving average of $40.78 and a 200 day simple moving average of $40.20.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The firm had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. During the same quarter last year, the business posted $0.80 earnings per share. On average, equities research analysts forecast that Delek Logistics Partners, LP will post 3.08 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a $1.10 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 dividend on an annualized basis and a yield of 11.29%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners’s payout ratio is presently 156.03%.

Insider Buying and Selling at Delek Logistics Partners

In related news, CFO Reuven Spiegel bought 3,885 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the purchase, the chief financial officer now directly owns 20,163 shares in the company, valued at approximately $785,953.74. The trade was a 23.87 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Israel bought 3,076 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was bought at an average price of $39.00 per share, with a total value of $119,964.00. Following the completion of the purchase, the executive vice president now owns 13,782 shares of the company’s stock, valued at $537,498. This trade represents a 28.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 10,934 shares of company stock worth $426,348 over the last ninety days. Company insiders own 1.00% of the company’s stock.

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.