Delek Logistics Partners, LP (NYSE:DKL) Chairman Acquires $149,812.50 in Stock

Delek Logistics Partners, LP (NYSE:DKL) Chairman Ezra Uzi Yemin bought 3,750 shares of the stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the purchase, the chairman now owns 162,217 shares in the company, valued at approximately $6,480,569.15. This represents a 2.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ezra Uzi Yemin also recently made the following trade(s):

• On Thursday, November 14th, Ezra Uzi Yemin purchased 710 shares of Delek Logistics Partners stock. The shares were bought at an average price of $38.72 per share, with a total value of $27,491.20.

Delek Logistics Partners Trading Up 1.3 %

Shares of NYSE:DKL opened at $40.49 on Friday. The stock has a market capitalization of $2.08 billion, a PE ratio of 14.36, a P/E/G ratio of 1.13 and a beta of 2.12. Delek Logistics Partners, LP has a 1 year low of $37.02 and a 1 year high of $47.67. The firm has a fifty day moving average price of $39.25 and a 200 day moving average price of $40.24.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The company had revenue of $214.07 million for the quarter, compared to the consensus estimate of $270.98 million. During the same quarter last year, the company posted $0.80 EPS. On average, sell-side analysts forecast that Delek Logistics Partners, LP will post 3.05 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 10.87%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DKL. Truist Financial upped their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Bank of America started coverage on Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price objective for the company. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $45.00 in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Institutional Trading of Delek Logistics Partners

Institutional investors and hedge funds have recently modified their holdings of the company. HB Wealth Management LLC acquired a new position in Delek Logistics Partners during the 2nd quarter worth $203,000. IFG Advisory LLC acquired a new position in shares of Delek Logistics Partners during the 2nd quarter worth about $640,000. Van ECK Associates Corp boosted its stake in Delek Logistics Partners by 76.0% during the 2nd 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. Strategic Financial Concepts LLC grew its holdings in Delek Logistics Partners by 4,182.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after buying an additional 484,571 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Delek Logistics Partners in the 2nd quarter worth approximately $456,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.