Delek Logistics Partners, LP (NYSE:DKL) CFO Reuven Spiegel Acquires 3,885 Shares

Delek Logistics Partners, LP (NYSE:DKL) CFO Reuven Spiegel bought 3,885 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average cost of $38.98 per share, with a total value of $151,437.30. Following the completion of the purchase, the chief financial officer now owns 20,163 shares in the company, valued at approximately $785,953.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Delek Logistics Partners Stock Performance

NYSE:DKL traded up $0.01 during mid-day trading on Monday, hitting $38.98. The stock had a trading volume of 44,740 shares, compared to its average volume of 87,026. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.07 and a beta of 2.12. Delek Logistics Partners, LP has a twelve month low of $37.02 and a twelve month high of $53.80. The company’s 50 day simple moving average is $40.04 and its 200 day simple moving average is $40.49.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 11.81% and a negative return on equity of 115.32%. The firm had revenue of $264.63 million for the quarter, compared to analysts’ expectations of $257.17 million. During the same period in the prior year, the firm earned $0.73 EPS. As a group, equities analysts forecast that Delek Logistics Partners, LP will post 3.27 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 11.19%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 157.40%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Delek Logistics Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

Institutional Trading of Delek Logistics Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Thoroughbred Financial Services LLC grew its position in Delek Logistics Partners by 9.6% in the 4th quarter. Thoroughbred Financial Services LLC now owns 7,379 shares of the oil and gas producer’s stock worth $318,000 after purchasing an additional 648 shares in the last quarter. Tortoise Index Solutions LLC raised its stake in shares of Delek Logistics Partners by 12.9% in the fourth quarter. Tortoise Index Solutions LLC now owns 11,527 shares of the oil and gas producer’s stock valued at $498,000 after buying an additional 1,316 shares during the period. Van ECK Associates Corp boosted its position in Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after purchasing an additional 1,437 shares during the period. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners in the 1st quarter worth approximately $66,000. Finally, B. Riley Wealth Advisors Inc. grew its stake in Delek Logistics Partners by 31.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after buying an additional 3,215 shares in the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.