Insider Buying: Delek Logistics Partners (NYSE:DKL) EVP Buys $75,000.00 in Stock

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Robert Wright acquired 1,500 shares of Delek Logistics Partners stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $50.00 per share, for a total transaction of $75,000.00. Following the acquisition, the executive vice president owned 7,994 shares in the company, valued at approximately $399,700. This represents a 23.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Delek Logistics Partners Stock Up 0.8%

Shares of NYSE:DKL opened at $54.16 on Thursday. Delek Logistics Partners, L.P. has a one year low of $42.35 and a one year high of $61.50. The company has a 50 day moving average of $54.37 and a 200-day moving average of $52.74. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 18.87 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The business had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. On average, sell-side analysts forecast that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $1.135 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio is currently 158.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. UBS Group started coverage on shares of Delek Logistics Partners in a research note on Thursday, July 16th. They set a “neutral” rating and a $56.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Delek Logistics Partners in a research note on Friday, August 7th. Finally, Raymond James Financial reissued an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.40.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in Delek Logistics Partners by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after acquiring an additional 258 shares in the last quarter. Focus Financial Network Inc. raised its stake in shares of Delek Logistics Partners by 2.2% in the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock valued at $707,000 after purchasing an additional 300 shares during the period. American Financial Group Inc. lifted its holdings in shares of Delek Logistics Partners by 3.0% in the fourth quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock valued at $759,000 after purchasing an additional 500 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Delek Logistics Partners by 303.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 910 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Delek Logistics Partners by 8.0% during the third quarter. Private Advisor Group LLC now owns 13,537 shares of the oil and gas producer’s stock worth $616,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.