Delek Logistics Partners (NYSE:DKL) EVP Acquires $50,000.00 in Stock

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel bought 1,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $50.00 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the executive vice president directly owned 29,549 shares in the company, valued at approximately $1,477,450. This trade represents a 3.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Delek Logistics Partners Trading Up 0.8%

NYSE DKL opened at $54.16 on Thursday. The firm has a market capitalization of $2.88 billion, a PE ratio of 18.87 and a beta of 0.46. The business’s 50-day moving average price is $54.37 and its two-hundred day moving average price is $52.74. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 386.77. Delek Logistics Partners, L.P. has a 12 month low of $42.35 and a 12 month high of $61.50.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The company had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. On average, analysts expect that Delek Logistics Partners, L.P. will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $1.135 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.54 dividend on an annualized basis and a yield of 8.4%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s payout ratio is currently 158.19%.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of Delek Logistics Partners during the 2nd quarter worth approximately $50,000. Jones Financial Companies Lllp grew its position in shares of 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. State of Wyoming bought a new stake in shares of Delek Logistics Partners in the 1st quarter valued at $67,000. Osaic Holdings Inc. increased its stake in shares of Delek Logistics Partners by 245.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Delek Logistics Partners by 1,186.5% during 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 acquiring an additional 3,868 shares during the period. 11.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DKL. UBS Group assumed coverage on shares of Delek Logistics Partners in a research report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Delek Logistics Partners in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.40.

Delek Logistics Partners Company Profile

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.