JPMorgan Chase & Co. Has $10.68 Million Position in Delek Logistics Partners, LP (NYSE:DKL)

JPMorgan Chase & Co. lifted its holdings in Delek Logistics Partners, LP (NYSE:DKL) by 14.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,243 shares of the oil and gas producer’s stock after buying an additional 31,654 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Delek Logistics Partners worth $10,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DKL. Susquehanna Fundamental Investments LLC acquired a new stake in Delek Logistics Partners during the 2nd quarter worth about $456,000. Sanctuary Advisors LLC acquired a new position in shares of Delek Logistics Partners in the 2nd quarter valued at about $522,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $70,000. Foundations Investment Advisors LLC acquired a new stake in shares of Delek Logistics Partners during the third quarter worth approximately $211,000. Finally, Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners during the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America assumed coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Down 0.4 %

DKL stock opened at $42.20 on Monday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.15 and a beta of 2.10. The firm has a 50 day moving average of $40.12 and a two-hundred day moving average of $40.49. Delek Logistics Partners, LP has a 12 month low of $37.02 and a 12 month high of $47.67.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The business had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, research analysts expect that Delek Logistics Partners, LP will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a dividend of $1.10 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 10.43%. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Insider Activity at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin acquired 3,750 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $39.95 per share, with a total value of $149,812.50. Following the acquisition, the chairman now owns 162,217 shares in the company, valued at approximately $6,480,569.15. This represents a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 4,835 shares of company stock valued at $192,184. Corporate insiders own 1.00% of the company’s stock.

Delek Logistics Partners 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.