In the world of finance, it’s not uncommon for big players to make strategic moves in order to stay ahead of the game. UBS Group AG, one of the industry’s heavyweights, made headlines recently for cutting its position in Delek Logistics Partners, LP (NYSE:DKL) by 26.8% during the fourth quarter. According to a Form 13F filing with the Securities and Exchange Commission (SEC), the fund owned 46,823 shares of DKL after selling 17,176 shares during this period. This move left UBS Group AG with a 0.11% stake in Delek Logistics Partners worth $2,119,000 as of its most recent SEC filing.
Delek Logistics Partners LP is an oil and gas producer that owns and operates logistics and marketing assets for crude oil, intermediate products, and refined products. The company gathers, transports, and stores crude oil while also marketing, distributing, transporting and storing refined products. It has created a strong foothold in this field through its various segments including Pipelines and Transportation; Wholesale Marketing and Terminalling; Investments in Pipeline Joint Ventures.
Taking into consideration their market capitalisation valued at $2.31 billion as well as their price-to-earnings ratio at 14.70 coupled with beta standing at 2.14 shows just how much weight Delek Logistics Partners carries within this volatile sector of finance markets.
As at June 6th 2023 NYSE:DKL opened at $53.06 per share – a testament to its resilience as it weathered fluctuations caused by external factors such as COVID-19. Despite facing tough times along the way DKL maintains steady performance throughout time; currently holding a moving average rate of around $48 on both counts–fifty day or two hundred day intervals but experiencing highs up to $64 per year as well as lows down to $41.
Overall this move by UBS Group AG marks the latest chapter in the constantly evolving tale of the world of high-finance, as industry heavyweights make complex and strategic moves in efforts to continue their growth alongside top competitors. This highlights how no single entity can ever be bigger than the system itself, which is forever evolving but only time will tell whether their move was symbolic or has strategic significance.
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Institutional Investors Boost Positions in Delek Logistics Partners Despite Falling Earnings
Delek Logistics Partners has recently undergone some significant changes, with several institutional investors making adjustments to their positions in the company. JPMorgan Chase & Co. increased its stake in the oil and gas producer by 15.6% in the first quarter, while First Trust Advisors LP boosted its position by 27.6%. Blackstone Inc also upped its position by 25.9% during Q3 and Bank of America Corp DE saw an 18.6% boost during Q1. Finally, LPL Financial LLC raised its stake by 1.4% in the second quarter. All told, institutional investors and hedge funds now own 12.39% of Delek Logistics Partner’s stock.
Despite these recent developments, StockNews.com has raised Delek Logistics Partners’ rating from “sell” to “hold”. The firm specializes in logistics and marketing assets for crude oil, intermediate products, and refined products – including gathering, transporting, storing, marketing, distributing all of these commodities accordingly.
Delek Logistic Partners last reported its earnings results on May 8th showing $0.86 earnings per share for the quarter falling short of a consensus estimate of $1.11 per share by ($0.25). During that same period the company had revenue worth of $243 million so far which is less than analyst estimates which forecasted it would amount to $273 million.
Investors should note that despite earnings lagging behind expectations slightly; Delek did raise their dividend payments when they were most recently declared – increasing from $0.73 to $1.025 quarterly for those who retained shares past May 8th when dividends was payable on May 5th.This represents an annualized rate of $4:10 as well as a yield of almost eight percent at current valuation levels-effectively exemplifying gains to come judging from present indicators!