Insider Buying: Delek Logistics Partners (NYSE:DKL) President Acquires 2,500 Shares of Stock

Key Points

• Insider buying: Delek Logistics Partners President Avigal Soreq purchased 2,500 shares at $50 each, investing $125,000 and increasing his direct ownership by 3.04% to 84,782 shares.
• Mixed financial performance: DKL recently traded at $53.66, down 0.6%, while quarterly EPS of $0.54 fell short of the $0.93 analyst consensus despite revenue exceeding estimates.
• Income and analyst outlook: The partnership raised its quarterly dividend to $1.135, or $4.54 annualized, for an 8.5% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $55.40.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) President Avigal Soreq acquired 2,500 shares of Delek Logistics Partners stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $125,000.00. Following the completion of the acquisition, the president directly owned 84,782 shares in the company, valued at $4,239,100. This trade represents a 3.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Delek Logistics Partners Stock Down 0.6%

NYSE DKL traded down $0.35 on Monday, reaching $53.66. 187,719 shares of the stock traded hands, 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 company has a market cap of $2.85 billion, a price-to-earnings ratio of 18.70 and a beta of 0.46. The company has a fifty day moving average price of $54.30 and a 200-day moving average price of $52.69. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96.

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

Delek Logistics Partners Increases Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Delek Logistics Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in Delek Logistics Partners in the fourth quarter worth about $1,054,000. Alps Advisors Inc. raised its position in shares of Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer's stock valued at $200,305,000 after purchasing an additional 165,741 shares during the last quarter. Sharpepoint LLC raised its position in shares of Delek Logistics Partners by 4.2% in the 4th quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer's stock valued at $1,760,000 after purchasing an additional 1,575 shares during the last quarter. UBS Group AG raised its position in shares of Delek Logistics Partners by 7.5% in the 4th quarter. UBS Group AG now owns 123,564 shares of the oil and gas producer's stock valued at $5,513,000 after purchasing an additional 8,649 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in Delek Logistics Partners by 119.3% in the 4th quarter. Independent Advisor Alliance now owns 12,453 shares of the oil and gas producer's stock worth $556,000 after purchasing an additional 6,774 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Company Profile

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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