MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings in Delek Logistics Partners, LP (NYSE:DKL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Delek Logistics Partners, LP (NYSE:DKL) by 42.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,982 shares of the oil and gas producer’s stock after buying an additional 288,033 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.88% of Delek Logistics Partners worth $40,991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DKL. Exchange Traded Concepts LLC grew its stake in Delek Logistics Partners by 24.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer’s stock worth $771,000 after buying an additional 3,600 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in Delek Logistics Partners in the 4th quarter worth approximately $1,690,000. Strategic Financial Concepts LLC grew its stake in Delek Logistics Partners by 3,838.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after buying an additional 464,343 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Delek Logistics Partners by 19.1% in the 4th quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock worth $323,000 after buying an additional 1,223 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new position in Delek Logistics Partners in the 4th quarter worth approximately $482,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Up 3.9%

NYSE:DKL opened at $40.41 on Wednesday. The company has a fifty day moving average of $39.91 and a 200 day moving average of $40.65. 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 $2.17 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.28 and a beta of 0.81.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 EPS for the quarter, meeting analysts’ consensus estimates of $0.73. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The company had revenue of $249.93 million during the quarter, compared to analyst estimates of $237.17 million. As a group, analysts anticipate that Delek Logistics Partners, LP will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.11. This represents a $4.44 annualized dividend and a yield of 10.99%. Delek Logistics Partners’s dividend payout ratio is 148.49%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DKL. Raymond James upped their price objective on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com cut shares of Delek Logistics Partners from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.