Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel Sells 500 Shares of Stock

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $45.00, for a total transaction of $22,500.00. Following the completion of the transaction, the executive vice president directly owned 26,434 shares of the company’s stock, valued at approximately $1,189,530. This represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $44.78 on Tuesday. The firm has a 50 day simple moving average of $43.45 and a 200-day simple moving average of $41.83. The company has a debt-to-equity ratio of 22.02, a current ratio of 1.61 and a quick ratio of 1.52. The firm has a market cap of $2.39 billion, a PE ratio of 14.98, a P/E/G ratio of 1.00 and a beta of 0.69. Delek Logistics Partners, L.P. has a 1-year low of $34.59 and a 1-year high of $48.00.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. Delek Logistics Partners had a net margin of 15.88% and a negative return on equity of 1,782.51%. The firm had revenue of $249.93 million during the quarter, compared to analyst estimates of $237.17 million. On average, equities analysts expect 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 will be paid on Thursday, August 14th. Investors of record on Friday, August 8th will be given a dividend of $1.115 per share. This represents a $4.46 annualized dividend and a yield of 10.0%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Friday, August 8th. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 148.49%.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. increased its position in Delek Logistics Partners by 31.3% during the first quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer’s stock worth $186,722,000 after purchasing an additional 1,028,497 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Delek Logistics Partners by 26.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,224,195 shares of the oil and gas producer’s stock worth $52,959,000 after purchasing an additional 254,213 shares during the last quarter. Bank of Montreal Can acquired a new position in Delek Logistics Partners during the fourth quarter worth approximately $17,819,000. Cohen & Steers Inc. acquired a new position in Delek Logistics Partners during the fourth quarter worth approximately $11,805,000. Finally, Westwood Holdings Group Inc. grew its stake in Delek Logistics Partners by 187.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 273,220 shares of the oil and gas producer’s stock worth $11,546,000 after buying an additional 178,324 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DKL. Mizuho raised shares of Delek Logistics Partners to a “hold” rating in a research report on Thursday, June 26th. Wall Street Zen lowered shares of Delek Logistics Partners from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Delek Logistics Partners has an average rating of “Hold” and a consensus target price of $44.25.

About Delek Logistics Partners

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.