Delek Logistics Partners (NYSE:DKL) Downgraded by StockNews.com

StockNews.com lowered shares of Delek Logistics Partners (NYSE:DKL) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

Separately, Citigroup raised Delek Logistics Partners from a neutral rating to a buy rating and increased their target price for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th.

Delek Logistics Partners Price Performance

DKL stock opened at $42.19 on Tuesday. The business has a 50-day moving average price of $40.80 and a 200 day moving average price of $40.06. The company has a market capitalization of $1.99 billion, a P/E ratio of 15.23 and a beta of 2.11. Delek Logistics Partners has a 1-year low of $37.02 and a 1-year high of $53.80.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The business had revenue of $264.63 million during the quarter, compared to analyst estimates of $257.17 million. During the same quarter in the previous year, the business posted $0.73 EPS. On average, analysts anticipate that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were issued a dividend of $1.09 per share. The ex-dividend date was Friday, August 9th. This represents a $4.36 annualized dividend and a dividend yield of 10.33%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio is 157.40%.

Insider Buying and Selling

In related news, CFO Reuven Spiegel purchased 3,885 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price of $38.98 per share, with a total value of $151,437.30. Following the completion of the acquisition, the chief financial officer now owns 20,163 shares in the company, valued at approximately $785,953.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Reuven Spiegel bought 3,885 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $38.98 per share, with a total value of $151,437.30. Following the transaction, the chief financial officer now directly owns 20,163 shares in the company, valued at $785,953.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sherri Anne Brillon purchased 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $39.00 per share, with a total value of $78,000.00. Following the transaction, the director now owns 11,433 shares in the company, valued at approximately $445,887. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors have recently bought and sold shares of DKL. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Delek Logistics Partners by 205.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock worth $60,775,000 after acquiring an additional 997,860 shares during the period. Strategic Financial Concepts LLC grew its position in Delek Logistics Partners by 4,182.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock worth $201,000 after purchasing an additional 484,571 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Delek Logistics Partners during the 1st quarter valued at about $12,656,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Delek Logistics Partners in the 1st quarter valued at about $10,304,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Delek Logistics Partners by 263.8% in the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock valued at $1,539,000 after buying an additional 27,217 shares during the period. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.