Insider Buying: Delek Logistics Partners, LP (NYSE:DKL) Chairman Buys 3,750 Shares of Stock

Delek Logistics Partners, LP (NYSE:DKL) Chairman Ezra Uzi Yemin purchased 3,750 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $39.95 per share, with a total value of $149,812.50. Following the acquisition, the chairman now owns 162,217 shares in the company, valued at $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ezra Uzi Yemin also recently made the following trade(s):

• On Thursday, November 14th, Ezra Uzi Yemin bought 710 shares of Delek Logistics Partners stock. The stock was purchased at an average price of $38.72 per share, with a total value of $27,491.20.

Delek Logistics Partners Stock Down 0.0 %

Shares of DKL traded down $0.01 during mid-day trading on Wednesday, hitting $39.97. The stock had a trading volume of 156,053 shares, compared to its average volume of 113,618. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $47.67. The company has a market cap of $2.06 billion, a PE ratio of 14.17, a PEG ratio of 1.13 and a beta of 2.12. The company’s fifty day simple moving average is $39.21 and its two-hundred day simple moving average is $40.24.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The business had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. During the same period in the prior year, the firm earned $0.80 EPS. Equities analysts expect that Delek Logistics Partners, LP will post 3.05 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $4.40 annualized dividend and a dividend yield of 11.01%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in shares of Delek Logistics Partners during the third quarter valued at $206,000. Millburn Ridgefield Corp bought a new position in Delek Logistics Partners in the 3rd quarter valued at about $131,000. Infrastructure Capital Advisors LLC raised its position in shares of Delek Logistics Partners by 18.6% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock worth $11,055,000 after buying an additional 39,577 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in Delek Logistics Partners during the third quarter worth approximately $281,000. Finally, Lindbrook Capital LLC acquired a new stake in shares of Delek Logistics Partners in the third quarter valued at $219,000. Institutional investors own 11.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DKL shares. Truist Financial boosted their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $45.00 in a research note on Wednesday, August 28th. Finally, Bank of America began coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.00.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.