Delek Logistics Partners (NYSE:DKL) EVP Sells $13,300.00 in Stock

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel sold 250 shares of Delek Logistics Partners stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $53.20, for a total value of $13,300.00. Following the transaction, the executive vice president owned 22,490 shares of the company’s stock, valued at $1,196,468. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Reuven Spiegel also recently made the following trade(s):

• On Wednesday, February 4th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The stock was sold at an average price of $52.38, for a total value of $13,095.00.
• On Monday, January 5th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The shares were sold at an average price of $46.99, for a total value of $11,747.50.

Delek Logistics Partners Trading Down 2.7%

Shares of Delek Logistics Partners stock opened at $52.09 on Monday. The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07. The business has a fifty day simple moving average of $50.41 and a two-hundred day simple moving average of $46.76. Delek Logistics Partners, L.P. has a 1 year low of $34.59 and a 1 year high of $55.89. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.48 and a beta of 0.50.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.38). The company had revenue of $255.77 million during the quarter, compared to analyst estimates of $283.64 million. Delek Logistics Partners had a net margin of 17.41% and a return on equity of 461.30%. Research analysts forecast that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were paid a $1.125 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, February 5th. This represents a $4.50 dividend on an annualized basis and a yield of 8.6%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 136.78%.

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Delek Logistics Partners in the 2nd quarter valued at about $50,000. Jones Financial Companies Lllp lifted its holdings in shares of 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 acquiring an additional 910 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Delek Logistics Partners by 92.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 1,100 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Delek Logistics Partners by 1,186.5% during 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 purchasing an additional 3,868 shares in the last quarter. Institutional investors own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DKL. Citigroup restated a “neutral” rating and set a $52.00 price objective (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday. Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Delek Logistics Partners in a research report on Thursday. Zacks Research lowered Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Delek Logistics Partners currently has an average rating of “Hold” and an average target price of $50.67.

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.