Tortoise Capital Advisors L.L.C. Takes $4.05 Million Position in Delek Logistics Partners LP (DKL)
Tortoise Capital Advisors L.L.C. acquired a new position in shares of Delek Logistics Partners LP (NYSE:DKL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 119,249 shares of the oil and gas producer’s stock, valued at approximately $4,054,000.
A number of other institutional investors and hedge funds also recently modified their holdings of DKL. Guggenheim Capital LLC grew its position in Delek Logistics Partners by 33.6% in the first quarter. Guggenheim Capital LLC now owns 16,298 shares of the oil and gas producer’s stock valued at $462,000 after acquiring an additional 4,098 shares during the period. Renaissance Technologies LLC bought a new stake in Delek Logistics Partners in the second quarter valued at $843,000. First Republic Investment Management Inc. bought a new stake in Delek Logistics Partners in the second quarter valued at $270,000. Biglari Capital CORP. bought a new stake in Delek Logistics Partners in the second quarter valued at $2,876,000. Finally, California Public Employees Retirement System grew its position in Delek Logistics Partners by 15.9% in the second quarter. California Public Employees Retirement System now owns 15,485 shares of the oil and gas producer’s stock valued at $428,000 after acquiring an additional 2,122 shares during the period. 25.38% of the stock is owned by hedge funds and other institutional investors.
NYSE:DKL traded up $0.76 during trading hours on Monday, reaching $31.50. The company had a trading volume of 5,077 shares, compared to its average volume of 35,062. Delek Logistics Partners LP has a one year low of $26.50 and a one year high of $35.50. The stock has a market capitalization of $765.18 million, a price-to-earnings ratio of 15.07 and a beta of 1.20.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Friday, November 2nd were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 10.03%. The ex-dividend date was Thursday, November 1st. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.77. Delek Logistics Partners’s dividend payout ratio is presently 151.20%.
A number of analysts have weighed in on the company. ValuEngine upgraded Delek Logistics Partners from a “sell” rating to a “hold” rating in a research report on Friday. Credit Suisse Group upped their price target on Delek Logistics Partners from $31.00 to $33.00 and gave the company a “sell” rating in a research report on Wednesday, November 14th. Finally, Zacks Investment Research cut Delek Logistics Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and an average price target of $34.33.
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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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