Westwood Holdings Group Inc. Makes New Investment in Delek Logistics Partners, LP (NYSE:DKL)

Westwood Holdings Group Inc. acquired a new position in shares of Delek Logistics Partners, LP (NYSE:DKL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 308,754 shares of the oil and gas producer’s stock, valued at approximately $12,656,000. Westwood Holdings Group Inc. owned approximately 0.65% of Delek Logistics Partners as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Delek Logistics Partners by 205.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after purchasing an additional 997,860 shares during the period. Kayne Anderson Capital Advisors LP bought a new position in Delek Logistics Partners during the 1st quarter worth about $10,304,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Delek Logistics Partners during the 1st quarter worth about $3,074,000. Raymond James Financial Services Advisors Inc. bought a new position in Delek Logistics Partners during the 1st quarter worth about $1,722,000. Finally, GSA Capital Partners LLP increased its holdings in Delek Logistics Partners by 263.8% during the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock worth $1,539,000 after purchasing an additional 27,217 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Stock Performance

NYSE:DKL traded down $0.04 during mid-day trading on Friday, hitting $40.73. The stock had a trading volume of 81,917 shares, compared to its average volume of 50,380. Delek Logistics Partners, LP has a twelve month low of $36.50 and a twelve month high of $53.80. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 14.70 and a beta of 2.12. The company’s 50 day simple moving average is $40.18 and its 200 day simple moving average is $41.17.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. Delek Logistics Partners had a net margin of 11.81% and a negative return on equity of 115.32%. The business had revenue of $252.08 million during the quarter, compared to the consensus estimate of $263.96 million. As a group, equities analysts forecast that Delek Logistics Partners, LP will post 3.27 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be given a dividend of $1.09 per share. The ex-dividend date is Friday, August 9th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.36 annualized dividend and a yield of 10.70%. Delek Logistics Partners’s dividend payout ratio (DPR) is 154.51%.

Wall Street Analyst Weigh In

DKL has been the subject of a number of research reports. StockNews.com upgraded Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Truist Financial assumed coverage on shares of Delek Logistics Partners in a research note on Friday, April 19th. They set a “buy” rating and a $46.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.33.

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.