Delek Logistics Partners LP (DKL) Major Shareholder Acquires $271,308.00 in Stock
Delek Logistics Partners LP (NYSE:DKL) major shareholder Delek Us Holdings, Inc. bought 11,796 shares of the business’s stock in a transaction on Friday, November 11th. The shares were bought at an average cost of $23.00 per share, for a total transaction of $271,308.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Delek Us Holdings, Inc. also recently made the following trade(s):
- On Tuesday, November 15th, Delek Us Holdings, Inc. bought 16,000 shares of Delek Logistics Partners stock. The shares were bought at an average cost of $24.84 per share, for a total transaction of $397,440.00.
- On Monday, November 14th, Delek Us Holdings, Inc. bought 8,646 shares of Delek Logistics Partners stock. The shares were bought at an average cost of $23.28 per share, for a total transaction of $201,278.88.
Delek Logistics Partners LP (NYSE:DKL) opened at 25.00 on Friday. The firm has a market capitalization of $607.60 million, a P/E ratio of 11.56 and a beta of 1.34. Delek Logistics Partners LP has a 52 week low of $21.30 and a 52 week high of $38.00. The stock has a 50 day moving average price of $24.92 and a 200-day moving average price of $26.51.
Delek Logistics Partners (NYSE:DKL) last released its earnings results on Monday, October 31st. The company reported $0.41 EPS for the quarter, missing the Zacks’ 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. The firm’s revenue was down 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. Analysts anticipate that Delek Logistics Partners LP will post $2.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 10.48%. The ex-dividend date of this dividend was Thursday, November 3rd. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.63.
DKL has been the topic of several recent research reports. Wells Fargo & Co. raised Delek Logistics Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 9th. Zacks Investment Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a report on Tuesday, October 4th. Finally, Barclays PLC cut their target price on Delek Logistics Partners from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.00.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC boosted its position in Delek Logistics Partners by 11.1% in the third quarter. Global X Management Co. LLC now owns 244,699 shares of the company’s stock worth $6,993,000 after buying an additional 24,355 shares in the last quarter. Homrich & Berg boosted its position in Delek Logistics Partners by 4.0% in the third quarter. Homrich & Berg now owns 44,031 shares of the company’s stock worth $1,258,000 after buying an additional 1,693 shares in the last quarter. First Trust Advisors LP boosted its position in Delek Logistics Partners by 123.3% in the third quarter. First Trust Advisors LP now owns 361,010 shares of the company’s stock worth $10,318,000 after buying an additional 199,372 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in Delek Logistics Partners by 485.4% in the third quarter. HITE Hedge Asset Management LLC now owns 214,741 shares of the company’s stock worth $6,137,000 after buying an additional 178,058 shares in the last quarter. Finally, Creative Planning boosted its position in Delek Logistics Partners by 80.8% in the third quarter. Creative Planning now owns 8,110 shares of the company’s stock worth $232,000 after buying an additional 3,625 shares in the last quarter.
Delek Logistics Partners Company Profile
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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