Insider Selling: Delek Logistics Partners (NYSE:DKL) EVP Sells $11,250.00 in Stock

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel sold 250 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $45.00, for a total value of $11,250.00. Following the transaction, the executive vice president owned 24,712 shares in the company, valued at approximately $1,112,040. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Reuven Spiegel also recently made the following trade(s):

• On Friday, September 12th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The shares were sold at an average price of $45.00, for a total value of $11,250.00.
• On Monday, August 4th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The shares were sold at an average price of $45.00, for a total value of $11,250.00.
• On Tuesday, July 29th, Reuven Spiegel sold 500 shares of Delek Logistics Partners stock. The shares were sold at an average price of $45.00, for a total value of $22,500.00.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $42.66 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.59. The business has a 50-day simple moving average of $44.23 and a 200-day simple moving average of $42.48. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 69.13. Delek Logistics Partners, L.P. has a 52-week low of $34.59 and a 52-week high of $48.00.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $246.35 million during the quarter, compared to analysts’ expectations of $289.07 million. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 8th were issued a $1.115 dividend. This represents a $4.46 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.11. Delek Logistics Partners’s payout ratio is currently 151.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DKL shares. Mizuho upped their price target on Delek Logistics Partners from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Delek Logistics Partners in a report on Wednesday. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.25.

Institutional Investors Weigh In On Delek Logistics Partners

A number of large investors have recently made changes to their positions in DKL. BNP Paribas Financial Markets purchased a new stake in shares of Delek Logistics Partners in the second quarter valued at approximately $50,000. Jones Financial Companies Lllp grew its position in shares of Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Delek Logistics Partners in the first quarter valued at approximately $53,000. Osaic Holdings Inc. grew its position in shares of Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after purchasing an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Delek Logistics Partners by 1,186.5% in the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after purchasing an additional 3,868 shares in the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

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.