Delek Logistics Partners (NYSE:DKL) EVP Purchases $200,000.00 in Stock

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Mark Wayne Hobbs bought 4,000 shares of the company’s 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 $200,000.00. Following the acquisition, the executive vice president owned 24,125 shares of the company’s stock, valued at $1,206,250. This represents a 19.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Delek Logistics Partners Stock Performance

Shares of NYSE DKL opened at $54.16 on Thursday. Delek Logistics Partners, L.P. has a 1 year low of $42.35 and a 1 year high of $61.50. The firm has a market cap of $2.88 billion, a P/E ratio of 18.87 and a beta of 0.46. The stock has a fifty day moving average price of $54.37 and a two-hundred day moving average price of $52.74. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share 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 during the quarter, compared to analyst estimates of $293.64 million. Research analysts forecast 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 announced 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 dividend yield of 8.4%. The ex-dividend date was Monday, August 3rd. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s payout ratio is presently 158.19%.

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors have recently bought and sold shares of the business. Pinnacle Holdings LLC acquired a new position in shares of Delek Logistics Partners in the 2nd quarter valued at about $1,703,000. Focus Financial Network Inc. grew 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 valued at $707,000 after purchasing an additional 300 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in Delek Logistics Partners in the 2nd quarter worth approximately $206,000. Infrastructure Capital Advisors LLC boosted its stake in shares of Delek Logistics Partners by 2.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock valued at $7,786,000 after buying an additional 3,596 shares during the period. Finally, Gateway Wealth Partners LLC purchased a new position in shares of Delek Logistics Partners during the 1st quarter valued at $222,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $60.00 target price on shares of Delek Logistics Partners in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Delek Logistics Partners in a research note on Friday, August 7th. UBS Group started 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, Zacks Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.