Delek Logistics Partners (NYSE:DKL) President Avigal Soreq Acquires 2,500 Shares

Delek Logistics Partners, L.P. (NYSE:DKL) President Avigal Soreq purchased 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $50.00 per share, for a total transaction of $125,000.00. Following the completion of the acquisition, the president directly owned 84,782 shares of the company’s stock, valued at $4,239,100. This represents a 3.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Delek Logistics Partners Stock Down 0.6%

DKL stock opened at $53.66 on Tuesday. Delek Logistics Partners, L.P. has a one year low of $42.35 and a one year 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 firm’s fifty day moving average is $54.30 and its 200 day moving average is $52.69. The firm has a market cap of $2.85 billion, a PE ratio of 18.70 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last issued 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). 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 analyst estimates of $293.64 million. 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 issued a $1.135 dividend. This represents a $4.54 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s payout ratio is currently 158.19%.

Key Headlines 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 hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in shares of Delek Logistics Partners by 303.3% in the first 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. Jump Financial LLC purchased a new stake in Delek Logistics Partners during the 2nd quarter valued at about $207,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Delek Logistics Partners by 24.4% during the 2nd 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 acquiring an additional 298,867 shares in the last quarter. 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 valued at $8,806,000 after acquiring an additional 48,284 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 3,868 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DKL. UBS Group assumed coverage on Delek Logistics Partners in a research report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and set a $60.00 target price on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Zacks Research raised shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Delek Logistics Partners in a report on Friday, August 7th. Finally, Mizuho upped their price objective on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. One investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.