Reuven Spiegel Purchases 1,282 Shares of Delek Logistics Partners, LP (NYSE:DKL) Stock

Delek Logistics Partners, LP (NYSE:DKL) CFO Reuven Spiegel purchased 1,282 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were purchased at an average price of $39.00 per share, for a total transaction of $49,998.00. Following the purchase, the chief financial officer now owns 20,223 shares in the company, valued at approximately $788,697. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Reuven Spiegel also recently made the following trade(s):

• On Thursday, August 22nd, Reuven Spiegel bought 3,885 shares of Delek Logistics Partners stock. The stock was bought at an average price of $38.98 per share, for a total transaction of $151,437.30.

Delek Logistics Partners Trading Up 0.2 %

Shares of DKL stock opened at $39.20 on Thursday. The company has a market capitalization of $1.85 billion, a P/E ratio of 14.15 and a beta of 2.11. The business’s 50 day moving average is $41.16 and its two-hundred day moving average is $40.24. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $53.80.

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

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were given a dividend of $1.09 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 dividend on an annualized basis and a yield of 11.12%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio is currently 157.40%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Delek Logistics Partners by 205.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after acquiring an additional 997,860 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings 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 acquiring an additional 484,571 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Delek Logistics Partners during the first quarter valued at approximately $12,656,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Delek Logistics Partners during the first quarter valued at approximately $10,304,000. Finally, GSA Capital Partners LLP raised its holdings in shares of Delek Logistics Partners by 263.8% during the first quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock valued at $1,539,000 after acquiring an additional 27,217 shares during the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Wall Street Analysts Forecast Growth

DKL has been the topic of a number of recent research reports. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. StockNews.com downgraded Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th.

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.