Delek Logistics Partners, LP (NYSE:DKL) EVP Joseph Israel Buys 3,076 Shares of Stock

Delek Logistics Partners, LP (NYSE:DKL) EVP Joseph Israel acquired 3,076 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were bought at an average cost of $39.00 per share, with a total value of $119,964.00. Following the completion of the acquisition, the executive vice president now directly owns 13,782 shares of the company’s stock, valued at $537,498. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Delek Logistics Partners Trading Down 0.6 %

Shares of DKL stock opened at $39.13 on Wednesday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.13 and a beta of 2.11. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $53.80. The stock’s 50-day moving average price is $41.18 and its 200-day moving average price is $40.25.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The business had revenue of $264.63 million during the quarter, compared to analysts’ expectations of $257.17 million. During the same period last year, the company posted $0.73 EPS. As a group, research analysts predict that Delek Logistics Partners, LP will post 3.41 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were paid a $1.09 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 annualized dividend and a yield of 11.14%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 157.40%.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners in the first quarter worth approximately $66,000. Van ECK Associates Corp grew its position in shares of Delek Logistics Partners by 76.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after buying an additional 1,437 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Delek Logistics Partners by 4,182.7% during the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after buying an additional 484,571 shares during the period. HB Wealth Management LLC bought a new stake in shares of Delek Logistics Partners in the second quarter valued at about $203,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Delek Logistics Partners in the second quarter valued at about $456,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DKL shares. StockNews.com downgraded Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th.

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.