ING Groep NV Acquires 299,000 Shares of Delek Logistics Partners, LP (NYSE:DKL)

ING Groep NV raised its position in Delek Logistics Partners, LP (NYSE:DKL) by 2,491.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,000 shares of the oil and gas producer’s stock after purchasing an additional 299,000 shares during the period. ING Groep NV owned 0.60% of Delek Logistics Partners worth $13,143,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DKL. Farther Finance Advisors LLC bought a new position in Delek Logistics Partners in the 3rd quarter valued at $49,000. Venturi Wealth Management LLC bought a new position in Delek Logistics Partners in the 4th quarter valued at $64,000. Sittner & Nelson LLC bought a new position in Delek Logistics Partners in the 3rd quarter valued at $109,000. Millburn Ridgefield Corp bought a new position in Delek Logistics Partners in the 3rd quarter valued at $131,000. Finally, Van ECK Associates Corp boosted its holdings in Delek Logistics Partners by 74.6% in the 4th quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer’s stock valued at $205,000 after purchasing an additional 2,074 shares during the period. 11.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on DKL shares. Truist Financial raised their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. StockNews.com downgraded shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Raymond James lifted their price objective on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.25.

Insider Buying and Selling

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin bought 3,750 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the transaction, the chairman now directly owns 162,217 shares in the company, valued at $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Delek Logistics Partners Stock Performance

NYSE DKL opened at $40.37 on Friday. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $46.50. The company has a market capitalization of $2.08 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.29 and a beta of 2.10. The company has a fifty day moving average of $42.23 and a 200-day moving average of $40.94.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were given a $1.105 dividend. This represents a $4.42 dividend on an annualized basis and a yield of 10.95%. The ex-dividend date of this dividend was Tuesday, February 4th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 156.74%.

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.