Delek Logistics Partners (NYSE:DKL) EVP Robert Wright Buys 1,500 Shares

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Robert Wright purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the executive vice president directly owned 7,994 shares of the company’s stock, valued at $399,700. This represents a 23.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Delek Logistics Partners Price Performance

Shares of DKL stock opened at $53.66 on Tuesday. The business’s fifty day moving average is $54.30 and its 200 day moving average is $52.69. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 18.70 and a beta of 0.46. Delek Logistics Partners, L.P. has a twelve month low of $42.35 and a twelve month high of $61.50.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The firm had revenue of $384.76 million for the quarter, compared to analysts’ expectations of $293.64 million. Research analysts expect 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 declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $1.135 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.54 dividend on an annualized basis and a yield of 8.5%. Delek Logistics Partners’s dividend payout ratio is 158.19%.

Analyst Ratings Changes

A number of brokerages have weighed in on DKL. Mizuho raised their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Raymond James Financial restated an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Zacks Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. UBS Group assumed coverage on Delek Logistics Partners in a research note on Thursday, July 16th. They set a “neutral” rating and a $56.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Delek Logistics Partners in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.40.

Key Stories Impacting Delek Logistics Partners

Here are the key news stories impacting Delek Logistics Partners this week:

• Positive Sentiment: Company insiders made a combined investment of approximately $750,000 in DKL units on August 13. Chairman Ezra Uzi Yemin purchased 6,000 units, while President Avigal Soreq and EVPs Robert Wright, Reuven Spiegel and Mark Hobbs also bought shares. The purchases increased their individual holdings by roughly 3% to 23%, signaling management confidence in the partnership’s valuation and prospects. Chairman insider purchase filing
• Positive Sentiment: Delek Logistics raised its quarterly distribution for the third time this year, extending its record to 54 consecutive quarters of dividend growth. The increase reinforces DKL’s appeal to income-focused investors and indicates continued confidence in distributable cash flow. Dividend increase article
• Negative Sentiment: DKL announced a public offering of common units. Although the proceeds could support growth or balance-sheet needs, issuing additional units may dilute existing unitholders and pressure the unit price in the near term. The offering also adds to investor concerns given the partnership’s elevated leverage. Common-unit offering announcement

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of Delek Logistics Partners during the fourth quarter valued at approximately $1,054,000. Alps Advisors Inc. boosted its stake in Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after purchasing an additional 165,741 shares during the last quarter. Sharpepoint LLC boosted its stake in Delek Logistics Partners by 4.2% during the 4th quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock valued at $1,760,000 after purchasing an additional 1,575 shares during the last quarter. UBS Group AG increased its holdings in shares of Delek Logistics Partners by 7.5% in the 4th quarter. UBS Group AG now owns 123,564 shares of the oil and gas producer’s stock worth $5,513,000 after purchasing an additional 8,649 shares in the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in shares of Delek Logistics Partners in the second quarter worth $1,703,000. Hedge funds and other institutional investors 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.