421,653 Shares in Delek Logistics Partners, LP (NYSE:DKL) Bought by Bank of Montreal Can

Bank of Montreal Can acquired a new stake in Delek Logistics Partners, LP (NYSE:DKL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 421,653 shares of the oil and gas producer’s stock, valued at approximately $17,819,000. Bank of Montreal Can owned approximately 0.82% of Delek Logistics Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the 4th quarter valued at about $64,000. Van ECK Associates Corp boosted its position in Delek Logistics Partners by 74.6% during the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 2,074 shares in the last quarter. Stifel Financial Corp acquired a new stake in Delek Logistics Partners in the third quarter valued at approximately $206,000. Apollon Wealth Management LLC increased its position in shares of Delek Logistics Partners by 19.1% in the fourth quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 1,223 shares in the last quarter. Finally, Focus Financial Network Inc. raised its stake in shares of Delek Logistics Partners by 5.6% during the 4th quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer’s stock worth $429,000 after buying an additional 542 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Trading Down 0.5 %

DKL stock opened at $35.88 on Friday. The business’s 50-day moving average is $41.32 and its 200 day moving average is $41.06. Delek Logistics Partners, LP has a 12-month low of $34.59 and a 12-month high of $45.71. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The firm had revenue of $209.86 million during the quarter, compared to analyst estimates of $240.05 million. As a group, equities analysts forecast that Delek Logistics Partners, LP will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a dividend yield of 12.32%. Delek Logistics Partners’s dividend payout ratio is presently 147.83%.

Wall Street Analysts Forecast Growth

Separately, Raymond James lifted their price target on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.25.

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.