Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel Sells 250 Shares

Key Points

• Reuven Spiegel, EVP of Delek Logistics Partners, sold 250 shares at $45.00, decreasing his position by 0.95%, though he retains 26,184 shares valued at approximately $1.18 million.
• Delek Logistics Partners reported quarterly earnings of $0.83 per share, surpassing estimates, but revenue of $246.35 million fell short of expectations at $289.07 million.
• The company has declared a quarterly dividend of $1.115 per share, representing a 10.2% yield and an increase from the previous dividend of $1.11.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) EVP Reuven Spiegel sold 250 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $45.00, for a total value of $11,250.00. Following the sale, the executive vice president owned 26,184 shares of the company's stock, valued at $1,178,280. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Reuven Spiegel also recently made the following trade(s):

• On Tuesday, July 29th, Reuven Spiegel sold 500 shares of Delek Logistics Partners stock. The stock was sold at an average price of $45.00, for a total value of $22,500.00.

Delek Logistics Partners Stock Performance

Shares of DKL stock traded down $1.41 during trading on Friday, reaching $43.60. The company had a trading volume of 160,145 shares, compared to its average volume of 88,823. The firm's 50 day simple moving average is $43.71 and its two-hundred day simple moving average is $41.84. The company has a debt-to-equity ratio of 69.13, a current ratio of 0.93 and a quick ratio of 1.52. Delek Logistics Partners, L.P. has a one year low of $34.59 and a one year high of $48.00. The company has a market capitalization of $2.33 billion, a PE ratio of 14.78, a PEG ratio of 0.98 and a beta of 0.69.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. The business had revenue of $246.35 million for the quarter, compared to the consensus estimate of $289.07 million. Sell-side analysts forecast that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 8th will be given a $1.115 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $4.46 annualized dividend and a yield of 10.2%. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. Delek Logistics Partners's dividend payout ratio (DPR) is presently 151.19%.

Wall Street Analysts Forecast Growth

DKL has been the subject of a number of recent research reports. Wall Street Zen downgraded Delek Logistics Partners from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Mizuho raised Delek Logistics Partners to a "hold" rating in a research note on Thursday, June 26th. Two equities research analysts have 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 data from MarketBeat, Delek Logistics Partners has an average rating of "Hold" and an average price target of $44.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in Delek Logistics Partners by 303.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer's stock worth $52,000 after buying an additional 910 shares during the period. SVB Wealth LLC bought a new position in Delek Logistics Partners in the 1st quarter worth approximately $53,000. GeoWealth Management LLC bought a new position in Delek Logistics Partners in the 4th quarter worth approximately $206,000. MGO One Seven LLC bought a new position in Delek Logistics Partners in the 4th quarter worth approximately $206,000. Finally, Stifel Financial Corp increased its position in Delek Logistics Partners by 7.5% in the 4th quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer's stock worth $215,000 after buying an additional 355 shares during the period. 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.