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

Key Points

• EVP Reuven Spiegel sold 250 shares on March 4 at an average price of $53.20 (value $13,300), bringing his holdings to 22,490 shares (a 1.10% reduction); he also sold 250 shares in February and January, indicating multiple recent insider disposals.
• Shares and Q4 results disappointed: DKL traded down 2.7% to $52.09 on above-average volume after reporting Q4 EPS of $0.88 versus $1.26 expected and revenue of $255.77M versus $283.64M consensus.
• Dividend boosted to $1.125 quarterly (annualized $4.50) for an 8.6% yield, but the payout ratio is elevated at 136.78%, signaling potential sustainability concerns.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) EVP Reuven Spiegel sold 250 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $53.20, for a total value of $13,300.00. Following the transaction, the executive vice president owned 22,490 shares in the company, valued at $1,196,468. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, February 4th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The shares were sold at an average price of $52.38, for a total value of $13,095.00.
• On Monday, January 5th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The shares were sold at an average price of $46.99, for a total value of $11,747.50.

Delek Logistics Partners Stock Down 2.7%

DKL traded down $1.43 during trading on Friday, reaching $52.09. The stock had a trading volume of 116,647 shares, compared to its average volume of 69,943. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 386.77. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.48 and a beta of 0.51. The stock's 50 day moving average is $50.41 and its two-hundred day moving average is $46.71. Delek Logistics Partners, L.P. has a one year low of $34.59 and a one year high of $55.89.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.38). Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%.The business had revenue of $255.77 million during the quarter, compared to analysts' expectations of $283.64 million. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were issued a dividend of $1.125 per share. The ex-dividend date was Thursday, February 5th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a dividend yield of 8.6%. Delek Logistics Partners's dividend payout ratio (DPR) is 136.78%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DKL. Motiv8 Investments LLC purchased a new stake in Delek Logistics Partners in the fourth quarter worth approximately $192,000. Van ECK Associates Corp raised its stake in Delek Logistics Partners by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer's stock valued at $248,000 after buying an additional 258 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Delek Logistics Partners by 31.7% during the 4th quarter. Wells Fargo & Company MN now owns 13,523 shares of the oil and gas producer's stock valued at $603,000 after buying an additional 3,257 shares during the period. American Financial Group Inc. boosted its stake in shares of Delek Logistics Partners by 3.0% in the 4th quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer's stock worth $759,000 after buying an additional 500 shares during the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of Delek Logistics Partners by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer's stock worth $200,305,000 after acquiring an additional 165,741 shares during the period. 11.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research lowered Delek Logistics Partners from a "hold" rating to a "strong sell" rating in a research report on Friday, January 23rd. Weiss Ratings upgraded Delek Logistics Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 4th. Citigroup reaffirmed a "neutral" rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday. Finally, Raymond James Financial reissued an "outperform" rating and set a $55.00 price objective on shares of Delek Logistics Partners in a research report on Thursday. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $50.67.

About Delek Logistics Partners

Delek Logistics Partners L.P. NYSE: DKL is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership's core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.

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