Bank of Montreal Can Sells 95,382 Shares of Delek Logistics Partners, L.P. $DKL

Bank of Montreal Can reduced its stake in shares of Delek Logistics Partners, L.P. (NYSE:DKL) by 26.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 268,845 shares of the oil and gas producer’s stock after selling 95,382 shares during the quarter. Bank of Montreal Can’s holdings in Delek Logistics Partners were worth $11,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in shares of Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after acquiring an additional 910 shares during the period. SVB Wealth LLC bought a new stake in shares of Delek Logistics Partners during the first quarter valued at approximately $53,000. LPL Financial LLC grew its stake in Delek Logistics Partners by 2.9% in the first quarter. LPL Financial LLC now owns 45,721 shares of the oil and gas producer’s stock worth $1,978,000 after purchasing an additional 1,274 shares during the period. Focus Financial Network Inc. raised its holdings in Delek Logistics Partners by 16.5% in the second quarter. Focus Financial Network Inc. now owns 13,141 shares of the oil and gas producer’s stock worth $564,000 after purchasing an additional 1,865 shares in the last quarter. Finally, IFG Advisory LLC grew its position in shares of Delek Logistics Partners by 5.5% in the 2nd quarter. IFG Advisory LLC now owns 36,364 shares of the oil and gas producer’s stock worth $1,562,000 after buying an additional 1,883 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Down 2.6%

Delek Logistics Partners stock opened at $44.66 on Friday. Delek Logistics Partners, L.P. has a 12 month low of $34.59 and a 12 month high of $48.00. The stock has a fifty day simple moving average of $44.65 and a two-hundred day simple moving average of $43.28. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 69.13. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.00 and a beta of 0.56.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Friday, November 7th. The oil and gas producer reported $0.85 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.26). Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. The business had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $251.65 million. Equities analysts predict that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Friday, November 7th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.48 annualized dividend and a dividend yield of 10.0%. Delek Logistics Partners’s dividend payout ratio is presently 151.19%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, Director Charles J. Brown III sold 1,134 shares of Delek Logistics Partners stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $42.91, for a total value of $48,659.94. Following the completion of the sale, the director owned 17,971 shares of the company’s stock, valued at approximately $771,135.61. The trade was a 5.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,884 shares of company stock valued at $82,410 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

DKL has been the subject of a number of recent research reports. Mizuho lifted their price target on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Delek Logistics Partners in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

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.