Insider Buying: Delek Logistics Partners, LP (NYSE:DKL) President Acquires 375 Shares of Stock

Delek Logistics Partners, LP (NYSE:DKL) President Avigal Soreq purchased 375 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $39.68 per share, for a total transaction of $14,880.00. Following the completion of the acquisition, the president now directly owns 45,537 shares of the company’s stock, valued at $1,806,908.16. This trade represents a 0.83 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Avigal Soreq also recently made the following trade(s):

• On Thursday, October 10th, Avigal Soreq acquired 2,563 shares of Delek Logistics Partners stock. The shares were purchased at an average cost of $39.00 per share, with a total value of $99,957.00.

Delek Logistics Partners Stock Performance

Shares of NYSE DKL opened at $39.99 on Friday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.13 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 $47.67. The company has a 50 day simple moving average of $39.23 and a two-hundred day simple moving average of $40.24.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.19). The business had revenue of $214.07 million during the quarter, compared to the consensus estimate 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 previous year, the business posted $0.80 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, November 8th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 dividend on an annualized basis and a dividend yield of 11.00%. Delek Logistics Partners’s payout ratio is 156.03%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DKL. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. Bank of America began coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price on the stock. StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Truist Financial increased their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC bought a new position in Delek Logistics Partners in the 2nd quarter worth approximately $203,000. IFG Advisory LLC purchased a new position in Delek Logistics Partners during the 2nd quarter valued at approximately $640,000. Van ECK Associates Corp raised its holdings in shares of 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 worth $135,000 after acquiring an additional 1,437 shares in the last quarter. Strategic Financial Concepts LLC increased its position in Delek Logistics Partners by 4,182.7% in the second 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 last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Delek Logistics Partners during the second quarter valued at $456,000. 11.75% of the stock is owned by 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.