Bank of America Corp DE Grows Position in Delek Logistics Partners LP (DKL)

Bank of America Corp DE boosted its position in shares of Delek Logistics Partners LP (NYSE:DKL) by 27.5% in the fourth quarter, Holdings Channel reports. The firm owned 45,201 shares of the oil and gas producer’s stock after purchasing an additional 9,743 shares during the period. Bank of America Corp DE’s holdings in Delek Logistics Partners were worth $1,322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DKL. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Delek Logistics Partners by 4.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,939 shares of the oil and gas producer’s stock worth $8,627,000 after buying an additional 12,841 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Delek Logistics Partners by 116.5% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 258,162 shares of the oil and gas producer’s stock worth $7,551,000 after buying an additional 138,913 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Delek Logistics Partners in the third quarter worth about $217,000. Citigroup Inc. acquired a new stake in shares of Delek Logistics Partners in the fourth quarter worth about $87,000. Finally, Tortoise Index Solutions LLC lifted its position in shares of Delek Logistics Partners by 99.4% in the fourth quarter. Tortoise Index Solutions LLC now owns 2,903 shares of the oil and gas producer’s stock worth $85,000 after buying an additional 1,447 shares during the last quarter. 22.51% of the stock is owned by hedge funds and other institutional investors.

NYSE DKL opened at $30.59 on Friday. Delek Logistics Partners LP has a twelve month low of $26.50 and a twelve month high of $35.50. The stock has a market cap of $753.87 million, a P/E ratio of 11.54 and a beta of 1.08.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.08). Delek Logistics Partners had a negative return on equity of 68.73% and a net margin of 13.71%. The business had revenue of $152.48 million for the quarter, compared to analyst estimates of $151.96 million. Analysts forecast that Delek Logistics Partners LP will post 2.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 10.72%. The ex-dividend date is Monday, May 6th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.81. Delek Logistics Partners’s payout ratio is currently 123.77%.

DKL has been the subject of a number of analyst reports. ValuEngine cut Delek Logistics Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Zacks Investment Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating and set a $36.00 price target for the company in a research report on Tuesday, February 26th.

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Delek Logistics Partners Profile

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.

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Institutional Ownership by Quarter for Delek Logistics Partners (NYSE:DKL)

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