Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above 200-Day Moving Average of $53.41

Shares of Delek Logistics Partners, LP (NYSE:DKLGet Rating) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $53.41 and traded as high as $55.76. Delek Logistics Partners shares last traded at $54.96, with a volume of 53,667 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Delek Logistics Partners in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

Delek Logistics Partners Stock Performance

The business has a 50-day moving average of $53.58 and a 200 day moving average of $53.41. The stock has a market cap of $2.33 billion, a PE ratio of 14.73 and a beta of 2.19.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, November 4th were paid a $0.99 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.99. This represents a $3.96 annualized dividend and a yield of 7.39%. The ex-dividend date was Thursday, November 3rd. Delek Logistics Partners’s dividend payout ratio is presently 108.79%.

Insiders Place Their Bets

In other news, Chairman Ezra Uzi Yemin sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $56.08, for a total transaction of $56,080.00. Following the completion of the transaction, the chairman now owns 266,522 shares of the company’s stock, valued at approximately $14,946,553.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Reuven Spiegel sold 500 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the sale, the chief financial officer now directly owns 14,592 shares in the company, valued at approximately $902,952.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Ezra Uzi Yemin sold 1,000 shares of the stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $56.08, for a total value of $56,080.00. Following the completion of the transaction, the chairman now directly owns 266,522 shares in the company, valued at $14,946,553.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,359 shares of company stock valued at $2,212,833. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Large investors have recently modified their holdings of the company. Thoroughbred Financial Services LLC raised its position in shares of Delek Logistics Partners by 1.9% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 11,677 shares of the oil and gas producer’s stock valued at $594,000 after purchasing an additional 213 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Delek Logistics Partners by 4.0% in the second quarter. Janney Montgomery Scott LLC now owns 6,160 shares of the oil and gas producer’s stock valued at $312,000 after acquiring an additional 236 shares in the last quarter. Fractal Investments LLC raised its holdings in Delek Logistics Partners by 3.8% in the second quarter. Fractal Investments LLC now owns 10,659 shares of the oil and gas producer’s stock valued at $519,000 after acquiring an additional 387 shares in the last quarter. LPL Financial LLC boosted its stake in Delek Logistics Partners by 1.4% during the 2nd quarter. LPL Financial LLC now owns 29,646 shares of the oil and gas producer’s stock valued at $1,444,000 after acquiring an additional 415 shares during the last quarter. Finally, Vident Investment Advisory LLC grew its holdings in Delek Logistics Partners by 7.6% during the 1st quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock worth $312,000 after acquiring an additional 499 shares in the last quarter. 10.77% of the stock is currently owned by hedge funds and other institutional investors.

About Delek Logistics Partners

(Get Rating)

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates through three segments: Pipelines and Transportation, Wholesale Marketing and Terminalling, and Investment in Pipeline Joint Ventures. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and refined products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties.

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