Pinnacle Holdings LLC Has $1.41 Million Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL)

Pinnacle Holdings LLC reduced its holdings in Delek Logistics Partners, LP (NYSE:DKL) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 33,470 shares of the oil and gas producer’s stock after selling 742 shares during the period. Pinnacle Holdings LLC’s holdings in Delek Logistics Partners were worth $1,414,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DKL. Raymond James Financial Inc. bought a new stake in shares of Delek Logistics Partners in the fourth quarter worth $6,050,000. Bank of Montreal Can bought a new stake in shares of Delek Logistics Partners in the 4th quarter valued at about $17,819,000. Wells Fargo & Company MN increased its stake in shares of Delek Logistics Partners by 4.2% in the fourth quarter. Wells Fargo & Company MN now owns 30,338 shares of the oil and gas producer’s stock valued at $1,282,000 after buying an additional 1,223 shares during the period. Clearbridge Investments LLC increased its stake in shares of Delek Logistics Partners by 50.8% in the fourth quarter. Clearbridge Investments LLC now owns 296,718 shares of the oil and gas producer’s stock valued at $12,539,000 after buying an additional 100,000 shares during the period. Finally, Easterly Investment Partners LLC bought a new position in shares of Delek Logistics Partners during the fourth quarter worth about $587,000. Institutional investors own 11.75% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James upped their target price on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.25.

Delek Logistics Partners Price Performance

Shares of Delek Logistics Partners stock opened at $37.07 on Wednesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.28 and a beta of 1.62. The stock’s 50-day moving average is $41.83 and its 200 day moving average is $41.23. Delek Logistics Partners, LP has a one year low of $36.90 and a one year high of $45.71.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). The company had revenue of $209.86 million for the quarter, compared to analyst estimates of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. On average, sell-side analysts expect that Delek Logistics Partners, LP will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were paid a $1.105 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 annualized dividend and a yield of 11.92%. The ex-dividend date of this dividend was Tuesday, February 4th. Delek Logistics Partners’s payout ratio is 147.83%.

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.