Reuven Spiegel Buys 3,885 Shares of Delek Logistics Partners, LP (NYSE:DKL) Stock

Delek Logistics Partners, LP (NYSE:DKL) CFO Reuven Spiegel purchased 3,885 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the transaction, the chief financial officer now directly owns 20,163 shares of the company’s stock, valued at approximately $785,953.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Delek Logistics Partners Price Performance

DKL opened at $39.04 on Thursday. The company has a market capitalization of $1.84 billion, a PE ratio of 14.09 and a beta of 2.12. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $53.80. The business has a 50-day moving average of $40.02 and a 200-day moving average of $40.40.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. The firm had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. Delek Logistics Partners had a net margin of 11.81% and a negative return on equity of 115.32%. During the same quarter last year, the firm earned $0.73 earnings per share. On average, equities research analysts expect that Delek Logistics Partners, LP will post 3.27 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 11.17%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, August 9th. Delek Logistics Partners’s dividend payout ratio is presently 157.40%.

Hedge Funds Weigh In On Delek Logistics Partners

Institutional investors have recently bought and sold shares of the stock. Thoroughbred Financial Services LLC grew its holdings in Delek Logistics Partners by 9.6% during the fourth quarter. Thoroughbred Financial Services LLC now owns 7,379 shares of the oil and gas producer’s stock valued at $318,000 after purchasing an additional 648 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Delek Logistics Partners during the 4th quarter worth $408,000. Tortoise Index Solutions LLC grew its stake in Delek Logistics Partners by 12.9% in the 4th quarter. Tortoise Index Solutions LLC now owns 11,527 shares of the oil and gas producer’s stock valued at $498,000 after buying an additional 1,316 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners in the 1st quarter worth $66,000. Finally, Strategic Financial Concepts LLC acquired a new position in Delek Logistics Partners during the 1st quarter worth $475,000. 11.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DKL. StockNews.com upgraded Delek Logistics Partners from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $45.00 in a research note on Wednesday.

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.