CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Makes New Investment in Delek Logistics Partners, LP (NYSE:DKL)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Delek Logistics Partners, LP (NYSE:DKL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,000 shares of the oil and gas producer’s stock, valued at approximately $1,690,000.

Several other institutional investors and hedge funds have also modified their holdings of DKL. Farther Finance Advisors LLC bought a new stake in Delek Logistics Partners in the 3rd quarter valued at about $49,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners in the third quarter valued at approximately $70,000. Sittner & Nelson LLC bought a new stake in shares of Delek Logistics Partners in the third quarter valued at approximately $109,000. Millburn Ridgefield Corp acquired a new stake in Delek Logistics Partners during the third quarter worth approximately $131,000. Finally, Exchange Traded Concepts LLC increased its stake in Delek Logistics Partners by 24.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer’s stock worth $771,000 after acquiring an additional 3,600 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin purchased 710 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $38.72 per share, with a total value of $27,491.20. Following the completion of the purchase, the chairman now owns 54,851 shares in the company, valued at approximately $2,123,830.72. This represents a 1.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 4,835 shares of company stock worth $192,184. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Truist Financial upped their price objective 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. Finally, Bank of America assumed coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price for the company. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Trading Down 0.2 %

Shares of NYSE DKL opened at $44.24 on Friday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.40 and a beta of 2.10. Delek Logistics Partners, LP has a 12 month low of $37.02 and a 12 month high of $47.67. The stock has a 50-day moving average price of $41.22 and a two-hundred day moving average price of $40.77.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share 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 company had revenue of $214.07 million for the quarter, compared to the consensus estimate of $270.98 million. During the same period in the previous year, the firm posted $0.80 EPS. On average, sell-side analysts predict that Delek Logistics Partners, LP will post 3.05 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were given a dividend of $1.10 per share. The ex-dividend date was Friday, November 8th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 9.95%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 156.03%.

About Delek Logistics Partners

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.