Avigal Soreq Purchases 2,500 Shares of Delek Logistics Partners (NYSE:DKL) Stock

Delek Logistics Partners, L.P. (NYSE:DKL) President Avigal Soreq purchased 2,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $50.00 per share, with a total value of $125,000.00. Following the acquisition, the president owned 84,782 shares of the company’s stock, valued at approximately $4,239,100. The trade was a 3.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Delek Logistics Partners Stock Performance

Shares of DKL traded down $0.35 during trading hours on Monday, reaching $53.66. 187,719 shares of the company traded hands, compared to its average volume of 193,061. The stock has a market capitalization of $2.85 billion, a P/E ratio of 18.70 and a beta of 0.46. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. Delek Logistics Partners, L.P. has a 12-month low of $42.35 and a 12-month high of $61.50. The business has a fifty day moving average price of $54.30 and a 200-day moving average price of $52.69.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.39). The firm had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. Equities analysts anticipate that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders 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 dividend yield of 8.5%. The ex-dividend date of this dividend was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio is currently 158.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DKL shares. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Delek Logistics Partners in a report on Friday, August 7th. Raymond James Financial reiterated an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a report on Thursday, April 30th. Mizuho lifted their price objective on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Finally, UBS Group initiated coverage on shares of Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.40.

Institutional Trading of Delek Logistics Partners

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in Delek Logistics Partners during the second quarter worth about $50,000. Jones Financial Companies Lllp lifted its holdings in 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 acquiring an additional 910 shares during the period. State of Wyoming purchased a new stake in Delek Logistics Partners in the 1st quarter worth approximately $67,000. Osaic Holdings Inc. boosted its position in Delek Logistics Partners by 245.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after purchasing an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Delek Logistics Partners by 1,186.5% during the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 3,868 shares during the period. Hedge funds and other 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.