Daniel L. Gordon Sells 736 Shares of Delek Logistics Partners LP (DKL) Stock
Delek Logistics Partners LP (NYSE:DKL) insider Daniel L. Gordon sold 736 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $22.43, for a total value of $16,508.48. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at approximately $67,290. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Delek Logistics Partners LP (NYSE:DKL) opened at 24.80 on Wednesday. The firm has a 50 day moving average price of $25.28 and a 200-day moving average price of $26.74. Delek Logistics Partners LP has a 12 month low of $21.30 and a 12 month high of $38.00. The company has a market cap of $602.74 million, a P/E ratio of 11.47 and a beta of 1.34.
Delek Logistics Partners (NYSE:DKL) last released its earnings results on Monday, October 31st. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.14. The company earned $107.50 million during the quarter, compared to analyst estimates of $108.61 million. During the same quarter in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue was down 34.9% compared to the same quarter last year. Analysts anticipate that Delek Logistics Partners LP will post $2.10 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 10.56%. The ex-dividend date was Thursday, November 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.63.
A number of research firms have issued reports on DKL. Zacks Investment Research raised Delek Logistics Partners from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Wells Fargo & Co. lowered Delek Logistics Partners from an “outperform” rating to a “market perform” rating in a report on Monday, October 3rd. Finally, Barclays PLC reduced their price objective on Delek Logistics Partners from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.00.
A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Delek Logistics Partners by 797.0% in the second quarter. Creative Planning now owns 4,485 shares of the company’s stock worth $120,000 after buying an additional 3,985 shares during the period. HITE Hedge Asset Management LLC increased its position in shares of Delek Logistics Partners by 142.9% in the second quarter. HITE Hedge Asset Management LLC now owns 36,683 shares of the company’s stock worth $980,000 after buying an additional 21,579 shares during the period. First Trust Advisors LP acquired a new position in shares of Delek Logistics Partners during the second quarter worth $4,317,000. Global X Management Co. LLC increased its position in shares of Delek Logistics Partners by 17.9% in the second quarter. Global X Management Co. LLC now owns 220,344 shares of the company’s stock worth $5,885,000 after buying an additional 33,516 shares during the period. Finally, Homrich & Berg increased its position in shares of Delek Logistics Partners by 5.3% in the second quarter. Homrich & Berg now owns 42,338 shares of the company’s stock worth $1,131,000 after buying an additional 2,145 shares during the period.
About Delek Logistics Partners
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.
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