Delek Logistics Partners (NYSE:DKL) Chairman Acquires $300,000.00 in Stock

Delek Logistics Partners, L.P. (NYSE:DKL) Chairman Ezra Uzi Yemin bought 6,000 shares of the stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the chairman owned 168,217 shares of the company’s stock, valued at approximately $8,410,850. This trade represents a 3.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Delek Logistics Partners Stock Performance

Shares of NYSE DKL traded down $0.35 during trading on Monday, reaching $53.66. 187,719 shares of the stock traded hands, compared to its average volume of 193,061. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a market capitalization of $2.85 billion, a P/E ratio of 18.70 and a beta of 0.46. Delek Logistics Partners, L.P. has a 52-week low of $42.35 and a 52-week high of $61.50. The company has a 50-day moving average of $54.30 and a 200-day moving average of $52.69.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data 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). The firm had revenue of $384.76 million during the quarter, compared to analysts’ expectations of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. Analysts forecast that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $1.135 dividend. The ex-dividend date was Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a dividend yield of 8.5%. Delek Logistics Partners’s dividend payout ratio is 158.19%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Delek Logistics Partners by 24.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after buying an additional 298,867 shares during the period. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after acquiring an additional 165,741 shares in the last quarter. HRT Financial LP increased its position in Delek Logistics Partners by 278.3% during the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock valued at $3,208,000 after purchasing an additional 54,959 shares during the period. Raymond James Financial Inc. raised its holdings in Delek Logistics Partners by 30.8% in the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after purchasing an additional 48,284 shares in the last quarter. Finally, Pinnacle Holdings LLC bought a new position in Delek Logistics Partners in the 2nd quarter worth $1,703,000. Institutional investors own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

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