Cohen & Steers Inc. Makes New $11.81 Million Investment in Delek Logistics Partners, LP (NYSE:DKL)

Cohen & Steers Inc. purchased a new position in Delek Logistics Partners, LP (NYSE:DKL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 279,335 shares of the oil and gas producer’s stock, valued at approximately $11,805,000. Cohen & Steers Inc. owned approximately 0.54% of Delek Logistics Partners at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Venturi Wealth Management LLC acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at approximately $64,000. Stifel Financial Corp bought a new stake in shares of Delek Logistics Partners during the third quarter worth $206,000. Van ECK Associates Corp raised its holdings in shares of 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 acquiring an additional 2,074 shares during the period. Zuckerman Investment Group LLC bought a new stake in Delek Logistics Partners in the 4th quarter valued at $263,000. Finally, Apollon Wealth Management LLC boosted its stake in Delek Logistics Partners by 19.1% in the 4th quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock worth $323,000 after purchasing an additional 1,223 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL opened at $35.88 on Monday. The company’s 50-day moving average price is $41.32 and its two-hundred day moving average price is $41.05. Delek Logistics Partners, LP has a one year low of $34.59 and a one year high of $45.71. The stock has a market capitalization of $1.93 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share (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 the consensus estimate 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, analysts anticipate that Delek Logistics Partners, LP will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were paid a $1.105 dividend. The ex-dividend date was Tuesday, February 4th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 annualized dividend and a dividend yield of 12.32%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 147.83%.

Analysts Set New Price Targets

Separately, Raymond James boosted their price target 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 given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Delek Logistics Partners has a consensus rating of “Hold” and an average target price of $44.25.

Delek Logistics Partners Company 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.