Delek Logistics Partners (NYSE:DKL) EVP Reuven Spiegel Sells 250 Shares

Key Points

• Reuven Spiegel, EVP of Delek Logistics Partners, recently sold 250 shares at an average price of $45.00, decreasing his position by 1.00% to a total of 24,712 shares.
• Delek Logistics Partners announced a quarterly dividend of $1.115, an increase from the previous $1.11, with a yield of 9.9%.
• The stock currently holds a market cap of $2.40 billion and has recently been rated "Hold" by analysts, with a price target of $44.25.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) EVP Reuven Spiegel sold 250 shares of Delek Logistics Partners stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $45.00, for a total transaction of $11,250.00. Following the completion of the transaction, the executive vice president owned 24,712 shares in the company, valued at approximately $1,112,040. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, September 12th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The shares were sold at an average price of $45.00, for a total transaction of $11,250.00.
• On Monday, August 4th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The shares were sold at an average price of $45.00, for a total transaction of $11,250.00.
• 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 transaction of $22,500.00.

Delek Logistics Partners Stock Performance

Delek Logistics Partners stock remained flat at $44.98 on Wednesday. 37,178 shares of the company's stock were exchanged, compared to its average volume of 51,793. The firm has a market cap of $2.40 billion, a PE ratio of 15.25, a PEG ratio of 1.01 and a beta of 0.59. The company has a debt-to-equity ratio of 69.13, a quick ratio of 0.89 and a current ratio of 0.93. Delek Logistics Partners, L.P. has a 52-week low of $34.59 and a 52-week high of $48.00. The company's fifty day moving average is $44.32 and its two-hundred day moving average is $42.50.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. The firm had revenue of $246.35 million during the quarter, compared to analyst estimates of $289.07 million. Equities analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 8th were paid a $1.115 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 dividend on an annualized basis and a yield of 9.9%. Delek Logistics Partners's payout ratio is presently 151.19%.

Institutional Trading of Delek Logistics Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. increased its position in Delek Logistics Partners by 9.5% in the 1st quarter. Raymond James Financial Inc. now owns 156,752 shares of the oil and gas producer's stock valued at $6,781,000 after acquiring an additional 13,580 shares during the period. Alps Advisors Inc. grew its holdings in Delek Logistics Partners by 31.3% in the first quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer's stock worth $186,722,000 after purchasing an additional 1,028,497 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in Delek Logistics Partners in the first quarter worth $351,000. Plan Group Financial LLC bought a new position in shares of Delek Logistics Partners in the first quarter valued at $1,090,000. Finally, HB Wealth Management LLC bought a new position in shares of Delek Logistics Partners during the first quarter valued at about $250,000. Institutional investors own 11.75% of the company's stock.

Analyst Upgrades and Downgrades

DKL has been the topic of several research analyst reports. Mizuho upped their price objective on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Delek Logistics Partners in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $44.25.

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.

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