Insider Buying: Delek Logistics Partners (NYSE:DKL) EVP Purchases 1,000 Shares

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel acquired 1,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $50.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president owned 29,549 shares of the company’s stock, valued at approximately $1,477,450. This trade represents a 3.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Delek Logistics Partners Trading Down 0.6%

Shares of NYSE:DKL traded down $0.35 during trading on Monday, hitting $53.66. The company had a trading volume of 187,719 shares, compared to its average volume of 193,061. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 18.70 and a beta of 0.46. Delek Logistics Partners, L.P. has a one year low of $42.35 and a one year high of $61.50. The company has a fifty day simple moving average of $54.30 and a two-hundred day simple moving average of $52.69. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91.

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

Delek Logistics Partners Increases Dividend

The company also recently disclosed 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. This represents a $4.54 dividend on an annualized basis and a yield of 8.5%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 158.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a report on Thursday, April 30th. Zacks Research raised shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. UBS Group initiated coverage on Delek Logistics Partners in a research note on Thursday, July 16th. They set a “neutral” rating and a $56.00 price target for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Delek Logistics Partners in a report on Friday, August 7th. Finally, Mizuho upped their price objective on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.40.

Institutional Trading of Delek Logistics Partners

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in Delek Logistics Partners during the 2nd quarter worth about $50,000. Jones Financial Companies Lllp boosted its stake in shares of Delek Logistics Partners by 303.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares in the last quarter. State of Wyoming purchased a new position in Delek Logistics Partners during the first quarter valued at approximately $67,000. Osaic Holdings Inc. increased its holdings in Delek Logistics Partners by 245.8% during the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after buying an additional 1,910 shares during the period. Finally, Avior Wealth Management LLC bought a new position in Delek Logistics Partners in the second quarter worth approximately $206,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

About Delek Logistics Partners

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.