Delek Logistics Partners (NYSE:DKL) President Acquires $125,000.00 in Stock

Delek Logistics Partners, L.P. (NYSE:DKL) President Avigal Soreq bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, with a total value of $125,000.00. Following the completion of the purchase, the president owned 84,782 shares in the company, valued at approximately $4,239,100. This trade represents a 3.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Delek Logistics Partners Stock Up 0.8%

DKL stock opened at $54.16 on Thursday. The firm has a market cap of $2.88 billion, a PE ratio of 18.87 and a beta of 0.46. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. The firm’s fifty day moving average is $54.37 and its 200 day moving average is $52.74. Delek Logistics Partners, L.P. has a one year low of $42.35 and a one year high of $61.50.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 12.85% and a negative return on equity of 935.80%. On average, research analysts forecast that Delek Logistics Partners, L.P. will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $1.135 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.54 annualized dividend and a dividend yield of 8.4%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 158.19%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research report 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 target price for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Delek Logistics Partners in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.40.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in Delek Logistics Partners in the 2nd quarter worth about $50,000. Jones Financial Companies Lllp increased its stake in Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 910 shares in the last quarter. State of Wyoming acquired a new position in shares of Delek Logistics Partners during the first quarter valued at approximately $67,000. Osaic Holdings Inc. raised its holdings in shares of 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 acquiring an additional 1,910 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Delek Logistics Partners by 1,186.5% in the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after acquiring an additional 3,868 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.