Allspring Global Investments Holdings LLC Acquires Shares of 14,700 Delek Logistics Partners, LP (NYSE:DKL)

Allspring Global Investments Holdings LLC acquired a new stake in Delek Logistics Partners, LP (NYSE:DKL) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 14,700 shares of the oil and gas producer’s stock, valued at approximately $621,000.

A number of other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC boosted its position 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 valued at $20,134,000 after buying an additional 464,343 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its position in Delek Logistics Partners by 18.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock valued at $11,055,000 after buying an additional 39,577 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Delek Logistics Partners by 14.9% in 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 buying an additional 31,654 shares during the last quarter. Adams Asset Advisors LLC bought a new position in Delek Logistics Partners in the 4th quarter valued at $2,544,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Delek Logistics Partners in the 4th quarter valued at $1,690,000. 11.75% of the stock is currently owned by institutional investors.

Delek Logistics Partners Stock Up 0.0 %

NYSE:DKL opened at $40.03 on Tuesday. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $46.50. The firm has a market capitalization of $2.06 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.28 and a beta of 2.10. The stock’s fifty day simple moving average is $42.24 and its 200-day simple moving average is $40.95.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. The ex-dividend date was Tuesday, February 4th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 annualized dividend and a yield of 11.04%. Delek Logistics Partners’s payout ratio is currently 156.74%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin bought 3,750 shares of Delek Logistics Partners stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the acquisition, the chairman now owns 162,217 shares in the company, valued at approximately $6,480,569.15. The trade was a 2.37 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.