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 stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $45.00, for a total transaction of $11,250.00. Following the transaction, the executive vice president owned 26,184 shares of the company's stock, valued at approximately $1,178,280. The trade was a 0.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

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

Delek Logistics Partners Stock Performance

DKL stock traded down $1.16 during midday trading on Wednesday, reaching $43.83. 152,775 shares of the company were exchanged, compared to its average volume of 78,538. Delek Logistics Partners, L.P. has a one year low of $34.59 and a one year high of $48.00. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69. The company has a debt-to-equity ratio of 22.02, a current ratio of 1.61 and a quick ratio of 1.52. The business has a 50-day moving average price of $43.60 and a two-hundred day moving average price of $41.86.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $246.35 million for the quarter, compared to analyst estimates of $289.07 million. Delek Logistics Partners had a net margin of 15.88% and a negative return on equity of 1,782.51%. Equities research analysts forecast that Delek Logistics Partners, L.P. will post 3.01 EPS 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 dividend of $1.115 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $4.46 dividend on an annualized basis and a yield of 10.2%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.11. Delek Logistics Partners's payout ratio is 148.49%.

Wall Street Analyst Weigh In

DKL has been the topic of a number of research reports. Mizuho raised shares of Delek Logistics Partners to a "hold" rating in a report on Thursday, June 26th. Wall Street Zen downgraded Delek Logistics Partners from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Delek Logistics Partners currently has an average rating of "Hold" and an average target price of $44.25.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer's stock worth $52,000 after acquiring an additional 910 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Delek Logistics Partners in the 1st quarter worth about $53,000. GeoWealth Management LLC acquired a new position in Delek Logistics Partners during the 4th quarter valued at about $206,000. MGO One Seven LLC bought a new position in Delek Logistics Partners in the fourth quarter valued at approximately $206,000. Finally, Stifel Financial Corp boosted its position in Delek Logistics Partners by 7.5% during the fourth quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer's stock valued at $215,000 after purchasing an additional 355 shares during the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners Company Profile

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.

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