Reuven Spiegel Acquires 1,000 Shares of Delek Logistics Partners (NYSE:DKL) Stock

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $50.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the executive vice president directly owned 29,549 shares in the company, valued at $1,477,450. The trade was a 3.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Delek Logistics Partners Stock Down 0.6%

DKL traded down $0.35 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 fifty day moving average price of $54.30 and a 200-day moving average price of $52.69. Delek Logistics Partners, L.P. has a 12-month low of $42.35 and a 12-month high of $61.50. 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 stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.70 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%.The firm had revenue of $384.76 million during the quarter, compared to the consensus estimate of $293.64 million. Analysts predict that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.135 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, August 3rd. This represents a $4.54 annualized dividend and a dividend yield of 8.5%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 158.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group began coverage on shares of Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Delek Logistics Partners in a research note 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, Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.40.

Hedge Funds Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp raised its position in shares of Delek Logistics Partners by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 258 shares during the last quarter. Focus Financial Network Inc. boosted its position in Delek Logistics Partners by 2.2% during the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after acquiring an additional 300 shares during the last quarter. American Financial Group Inc. boosted its position in Delek Logistics Partners by 3.0% during the fourth quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock worth $759,000 after acquiring an additional 500 shares during the last quarter. Jones Financial Companies Lllp grew 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 valued at $52,000 after acquiring an additional 910 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Delek Logistics Partners by 8.0% during the 3rd quarter. Private Advisor Group LLC now owns 13,537 shares of the oil and gas producer’s stock valued at $616,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.