Delek Logistics Partners (NYSE:DKL) Issues Earnings Results, Misses Estimates By $0.26 EPS

Delek Logistics Partners (NYSE:DKL) released its quarterly earnings data on Friday. The oil and gas producer reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.26), Zacks reports. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%.The company had revenue of $261.28 million for the quarter, compared to analyst estimates of $251.65 million.

Delek Logistics Partners Trading Down 2.6%

NYSE DKL traded down $1.20 on Friday, reaching $44.66. The stock had a trading volume of 90,074 shares, compared to its average volume of 62,751. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 69.13. The stock has a fifty day moving average price of $44.65 and a two-hundred day moving average price of $43.24. Delek Logistics Partners has a 12-month low of $34.59 and a 12-month high of $48.00. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 1.02 and a beta of 0.56.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Friday, November 7th will be given a $1.12 dividend. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.48 dividend on an annualized basis and a yield of 10.0%. Delek Logistics Partners’s dividend payout ratio is presently 151.19%.

Insider Activity

In related news, Director Charles J. Brown III sold 1,134 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $42.91, for a total transaction of $48,659.94. Following the transaction, the director owned 17,971 shares of the company’s stock, valued at approximately $771,135.61. This represents a 5.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 1,884 shares of company stock valued at $82,410. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Delek Logistics Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in shares of Delek Logistics Partners in the second quarter valued at approximately $50,000. Jones Financial Companies Lllp increased its stake in Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 910 shares during the period. Osaic Holdings Inc. lifted its holdings in Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after buying an additional 1,910 shares in the last quarter. Bank of America Corp DE boosted its position in Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after buying an additional 3,868 shares during the period. Finally, Jump Financial LLC purchased a new position in Delek Logistics Partners in the 2nd quarter valued at approximately $207,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DKL has been the topic of several recent research reports. Mizuho boosted their price target on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Delek Logistics Partners in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

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.