Pinnacle Holdings LLC Makes New $1.70 Million Investment in Delek Logistics Partners, L.P. $DKL

Pinnacle Holdings LLC acquired a new stake in Delek Logistics Partners, L.P. (NYSE:DKL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,044 shares of the oil and gas producer’s stock, valued at approximately $1,703,000.

Several other large investors also recently modified their holdings of DKL. BNP Paribas Financial Markets purchased a new stake in shares of Delek Logistics Partners during the second quarter worth about $50,000. Jones Financial Companies Lllp boosted its holdings in Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares during the last quarter. State of Wyoming purchased a new position in Delek Logistics Partners in the first quarter valued at about $67,000. Osaic Holdings Inc. boosted its holdings in Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Delek Logistics Partners by 1,186.5% during the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after purchasing an additional 3,868 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DKL. Weiss Ratings downgraded Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Raymond James Financial reissued an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Finally, UBS Group started coverage on shares of Delek Logistics Partners in a research note on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Delek Logistics Partners currently has an average rating of “Hold” and a consensus price target of $55.40.

Insiders Place Their Bets

In other news, President Avigal Soreq acquired 2,500 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $50.00 per share, for a total transaction of $125,000.00. Following the completion of the purchase, the president directly owned 84,782 shares of the company’s stock, valued at $4,239,100. This trade represents a 3.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Ezra Uzi Yemin acquired 6,000 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the chairman directly owned 168,217 shares of the company’s stock, valued at $8,410,850. The trade was a 3.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 15,000 shares of company stock worth $750,000. Corporate insiders own 1.00% of the company’s stock.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $54.12 on Monday. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. Delek Logistics Partners, L.P. has a one year low of $42.35 and a one year high of $61.50. The company’s 50-day simple moving average is $54.39 and its 200-day simple moving average is $52.79. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 18.86 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%.The firm had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. Equities analysts anticipate that Delek Logistics Partners, L.P. will post 3.94 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 Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $1.135 dividend. This represents a $4.54 annualized dividend and a dividend yield of 8.4%. The ex-dividend date was Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s payout ratio is 158.19%.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.