Raymond James & Associates Cuts Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL)

Raymond James & Associates lowered its position in shares of Delek Logistics Partners, LP (NYSE:DKL – Get Rating) by 8.2% in the third quarter, HoldingsChannel.com reports. The firm owned 40,849 shares of the oil and gas producer’s stock after selling 3,645 shares during the quarter. Raymond James & Associates’ holdings in Delek Logistics Partners were worth $2,081,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DKL. BNP Paribas Arbitrage SA acquired a new position in shares of Delek Logistics Partners during the first quarter worth $209,000. Cetera Investment Advisers acquired a new position in shares of Delek Logistics Partners during the second quarter worth $237,000. Janney Montgomery Scott LLC grew its stake in shares of Delek Logistics Partners by 4.0% during the second quarter. Janney Montgomery Scott LLC now owns 6,160 shares of the oil and gas producer’s stock worth $312,000 after purchasing an additional 236 shares in the last quarter. Vident Investment Advisory LLC grew its stake in shares of Delek Logistics Partners by 7.6% during the first quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock worth $312,000 after purchasing an additional 499 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Delek Logistics Partners by 6.7% during the first quarter. Royal Bank of Canada now owns 8,000 shares of the oil and gas producer’s stock worth $352,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 12.39% of the company’s stock.

Insider Transactions at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin sold 23,136 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $56.14, for a total transaction of $1,298,855.04. Following the completion of the sale, the chairman now owns 242,682 shares in the company, valued at $13,624,167.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 37,859 shares of company stock worth $2,125,813. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

DKL has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Delek Logistics Partners in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup began coverage on shares of Delek Logistics Partners in a research note on Thursday, December 8th. They issued a “neutral” rating and a $48.00 price objective for the company.

Delek Logistics Partners Price Performance

NYSE DKL opened at $46.30 on Monday. Delek Logistics Partners, LP has a 1 year low of $39.00 and a 1 year high of $64.46. The company has a market capitalization of $2.01 billion, a PE ratio of 12.72 and a beta of 2.15. The company has a fifty day moving average of $48.50 and a two-hundred day moving average of $52.35.

Delek Logistics Partners (NYSE:DKL – Get Rating) last released its quarterly earnings data on Monday, November 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.15. Delek Logistics Partners had a net margin of 16.51% and a negative return on equity of 143.27%. The company had revenue of $294.03 million during the quarter, compared to the consensus estimate of $313.48 million. On average, research analysts expect that Delek Logistics Partners, LP will post 3.95 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, November 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 8.55%. The ex-dividend date of this dividend was Thursday, November 3rd. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.99. Delek Logistics Partners’s dividend payout ratio is currently 108.79%.

Delek Logistics Partners Profile

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Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates through three segments: Pipelines and Transportation, Wholesale Marketing and Terminalling, and Investment in Pipeline Joint Ventures. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and refined products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties.