Delek Logistics Partners, LP (NYSE:DKL) Chairman Purchases $27,491.20 in Stock

Delek Logistics Partners, LP (NYSE:DKL) Chairman Ezra Uzi Yemin purchased 710 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $38.72 per share, for a total transaction of $27,491.20. Following the completion of the purchase, the chairman now directly owns 54,851 shares of the company’s stock, valued at $2,123,830.72. The trade was a 1.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Delek Logistics Partners Price Performance

Shares of DKL opened at $39.63 on Thursday. The firm has a 50 day simple moving average of $40.70 and a 200-day simple moving average of $40.20. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.12 and a beta of 2.12. Delek Logistics Partners, LP has a 1-year low of $37.02 and a 1-year high of $53.80.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The firm had revenue of $214.07 million during the quarter, compared to analysts’ expectations of $270.98 million. During the same quarter last year, the company posted $0.80 earnings per share. On average, equities analysts expect that Delek Logistics Partners, LP will post 3.08 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a $1.10 dividend. The ex-dividend date was Friday, November 8th. This represents a $4.40 dividend on an annualized basis and a yield of 11.10%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 156.03%.

Analysts Set New Price Targets

Several brokerages recently commented on DKL. Truist Financial lifted their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. Finally, Bank of America assumed coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.00.

Institutional Trading of Delek Logistics Partners

A number of institutional investors have recently modified their holdings of DKL. Farther Finance Advisors LLC purchased a new stake in Delek Logistics Partners during the third quarter worth approximately $49,000. Future Financial Wealth Managment LLC purchased a new stake in Delek Logistics Partners during the 3rd quarter worth $70,000. Sittner & Nelson LLC purchased a new stake in Delek Logistics Partners during the 3rd quarter worth $109,000. Millburn Ridgefield Corp acquired a new stake in Delek Logistics Partners in the 3rd quarter valued at $131,000. Finally, Van ECK Associates Corp raised its position in Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after purchasing an additional 1,437 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.