Delek Logistics Partners (NYSE:DKL) Shares Gap Up to $44.48

Shares of Delek Logistics Partners, LP (NYSE:DKL) gapped up prior to trading on Tuesday . The stock had previously closed at $44.48, but opened at $46.02. Delek Logistics Partners shares last traded at $46.08, with a volume of 151 shares traded.

Several analysts have issued reports on the company. Zacks Investment Research lowered Delek Logistics Partners from a “hold” rating to a “sell” rating in a research note on Thursday, November 11th. Wells Fargo & Company upped their target price on Delek Logistics Partners from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 10th.

The stock has a market cap of $2.02 billion, a PE ratio of 12.34 and a beta of 2.85. The business has a 50 day moving average price of $47.43 and a two-hundred day moving average price of $43.89.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Thursday, November 4th. The oil and gas producer reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The company had revenue of $189.63 million for the quarter, compared to analysts’ expectations of $172.75 million. Delek Logistics Partners had a net margin of 25.17% and a negative return on equity of 151.62%. During the same period last year, the company posted $1.26 EPS. Equities analysts forecast that Delek Logistics Partners, LP will post 3.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 10th. Investors of record on Friday, November 5th were paid a $0.95 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Thursday, November 4th. This represents a $3.80 dividend on an annualized basis and a yield of 8.17%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 100.80%.

In other news, Director Francis C. D’andrea sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $44.64, for a total transaction of $44,640.00. Following the completion of the transaction, the director now directly owns 18,995 shares in the company, valued at $847,936.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its position in shares of Delek Logistics Partners by 2,937.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,610 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 1,557 shares in the last quarter. LPL Financial LLC lifted its position in shares of Delek Logistics Partners by 1.1% during the 3rd quarter. LPL Financial LLC now owns 40,970 shares of the oil and gas producer’s stock valued at $1,853,000 after buying an additional 435 shares in the last quarter. Bramshill Investments LLC lifted its position in shares of Delek Logistics Partners by 7.8% during the 3rd quarter. Bramshill Investments LLC now owns 24,428 shares of the oil and gas producer’s stock valued at $1,105,000 after buying an additional 1,771 shares in the last quarter. Invesco Ltd. lifted its position in shares of Delek Logistics Partners by 0.3% during the 3rd quarter. Invesco Ltd. now owns 1,935,039 shares of the oil and gas producer’s stock valued at $87,522,000 after buying an additional 6,197 shares in the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at about $206,000. 10.58% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners Company Profile (NYSE:DKL)

Delek Logistics Partners LP owns and operates logistics and marketing assets for crude oil, intermediate, and refined products. The firm gathers, transports and stores crude oil. It also markets, distributes, transports and stores refined products. The company operates through two segments: Pipelines & Transportation and Wholesale Marketing & Terminalling.

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