Insider Buying: Delek Logistics Partners, LP (NYSE:DKL) Chairman Buys 710 Shares of Stock

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

Delek Logistics Partners Stock Up 1.2 %

Shares of NYSE:DKL opened at $39.46 on Wednesday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.12 and a beta of 2.12. The company has a 50 day moving average of $40.74 and a two-hundred day moving average of $40.20. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $53.80.

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

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 11.15%. The ex-dividend date was Friday, November 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors have recently made changes to their positions in DKL. Westwood Holdings Group Inc. acquired a new stake in shares of Delek Logistics Partners during the first quarter worth approximately $12,656,000. B. Riley Wealth Advisors Inc. boosted its stake in Delek Logistics Partners by 31.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after acquiring an additional 3,215 shares during the last quarter. HB Wealth Management LLC acquired a new position in Delek Logistics Partners during the 2nd quarter worth $203,000. IFG Advisory LLC bought a new stake in shares of Delek Logistics Partners in the 2nd quarter worth about $640,000. Finally, Van ECK Associates Corp raised its stake in shares of Delek Logistics Partners by 76.0% in 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 in the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DKL shares. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. Truist Financial increased their target price on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America began coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target on the stock. Finally, StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

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.