Delek Logistics Partners, LP (NYSE:DKL) President Avigal Soreq Purchases 2,563 Shares of Stock

Delek Logistics Partners, LP (NYSE:DKL) President Avigal Soreq bought 2,563 shares of the stock in a transaction on Thursday, October 10th. The shares were acquired at an average price of $39.00 per share, with a total value of $99,957.00. Following the purchase, the president now owns 46,758 shares of the company’s stock, valued at $1,823,562. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Delek Logistics Partners Trading Down 0.6 %

NYSE DKL opened at $39.13 on Wednesday. The company has a 50-day moving average price of $41.18 and a two-hundred day moving average price of $40.25. Delek Logistics Partners, LP has a 52 week low of $37.02 and a 52 week high of $53.80. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 14.13 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. The firm had revenue of $264.63 million for the quarter, compared to analysts’ expectations of $257.17 million. During the same period last year, the firm earned $0.73 EPS. As a group, equities research analysts expect that Delek Logistics Partners, LP will post 3.41 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 11.14%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 157.40%.

Hedge Funds Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Delek Logistics Partners by 205.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after acquiring an additional 997,860 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Delek Logistics Partners by 263.8% during the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock worth $1,539,000 after acquiring an additional 27,217 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Delek Logistics Partners in the 1st quarter worth $12,656,000. Strategic Financial Concepts LLC raised its position in shares of Delek Logistics Partners by 4,182.7% during the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock worth $201,000 after purchasing an additional 484,571 shares during the period. Finally, IFG Advisory LLC purchased a new stake in shares of Delek Logistics Partners during the second quarter valued at $640,000. 11.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DKL. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com downgraded Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th.

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.