Insider Buying: Delek Logistics Partners (NYSE:DKL) EVP Acquires 4,000 Shares of Stock

Key Points

• Insider buying: EVP Mark Wayne Hobbs purchased 4,000 DKL shares at $50 each, increasing his direct position by 19.88% to 24,125 shares.
• Dividend boost: Delek Logistics raised its quarterly dividend to $1.135 per share, equivalent to $4.54 annually and an 8.5% yield, though its payout ratio is elevated at 158.19%.
• Mixed performance and sentiment: The company missed quarterly EPS expectations but exceeded revenue estimates. Analysts maintain a “Moderate Buy” consensus with an average $55.40 price target, versus a recent share price of $53.66.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) EVP Mark Wayne Hobbs acquired 4,000 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $50.00 per share, with a total value of $200,000.00. Following the completion of the transaction, the executive vice president directly owned 24,125 shares of the company's stock, valued at $1,206,250. This trade represents a 19.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Delek Logistics Partners Stock Performance

DKL stock traded down $0.35 on Monday, reaching $53.66. 187,719 shares of the company were exchanged, compared to its average volume of 193,061. Delek Logistics Partners, L.P. has a 12 month low of $42.35 and a 12 month high of $61.50. The stock's fifty day moving average price is $54.30 and its 200 day moving average price is $52.69. The firm has a market capitalization of $2.85 billion, a PE ratio of 18.70 and a beta of 0.46. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.39). The company had revenue of $384.76 million for the quarter, compared to analyst estimates of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. On average, research analysts anticipate that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $1.135 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend was Monday, August 3rd. Delek Logistics Partners's dividend payout ratio (DPR) is currently 158.19%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DKL. Alps Advisors Inc. lifted its holdings in shares of Delek Logistics Partners by 3.8% during the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer's stock valued at $200,305,000 after acquiring an additional 165,741 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Delek Logistics Partners by 4.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,584,902 shares of the oil and gas producer's stock worth $72,176,000 after purchasing an additional 61,840 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Delek Logistics Partners by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 431,845 shares of the oil and gas producer's stock worth $19,269,000 after purchasing an additional 4,879 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Delek Logistics Partners by 11.2% during the 3rd quarter. Raymond James Financial Inc. now owns 228,090 shares of the oil and gas producer's stock worth $10,387,000 after purchasing an additional 23,054 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its holdings in Delek Logistics Partners by 2.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer's stock valued at $7,786,000 after purchasing an additional 3,596 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DKL has been the topic of several research reports. UBS Group assumed coverage on Delek Logistics Partners in a research note on Thursday, July 16th. They set a "neutral" rating and a $56.00 price target on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Delek Logistics Partners in a report on Friday, August 7th. Zacks Research upgraded Delek Logistics Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Mizuho lifted their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 21st. Finally, Raymond James Financial restated an "outperform" rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.40.

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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