Delek Logistics Partners (NYSE:DKL) EVP Sells $11,250.00 in Stock

Key Points

• Delek Logistics Partners' EVP Reuven Spiegel sold 250 shares of stock for a total of $11,250, reducing his ownership by 0.99% to 24,962 shares.
• The company recently increased its quarterly dividend to $1.115, yielding 9.9%, with a payout ratio of 151.19%.
• Analysts maintain a "Hold" rating for Delek Logistics Partners, with a consensus price target of $44.25 after Mizuho raised their target from $44.00 to $45.00.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) EVP Reuven Spiegel sold 250 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $45.00, for a total value of $11,250.00. Following the sale, the executive vice president directly owned 24,962 shares of the company's stock, valued at $1,123,290. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 value of $11,250.00.
• 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 value of $22,500.00.

Delek Logistics Partners Price Performance

Shares of Delek Logistics Partners stock traded down $0.69 during trading hours on Friday, hitting $45.13. The company's stock had a trading volume of 70,297 shares, compared to its average volume of 61,180. The business has a 50 day moving average price of $44.08 and a two-hundred day moving average price of $42.18. Delek Logistics Partners, L.P. has a 12-month low of $34.59 and a 12-month high of $48.00. The company has a market cap of $2.41 billion, a PE ratio of 15.30, a PEG ratio of 1.03 and a beta of 0.64. 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 (NYSE:DKL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%.The business had revenue of $246.35 million for the quarter, compared to the consensus estimate of $289.07 million. Analysts expect that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were given a $1.115 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 annualized dividend and a dividend yield of 9.9%. Delek Logistics Partners's dividend payout ratio (DPR) is presently 151.19%.

Analyst Ratings Changes

Separately, Mizuho boosted their target price on Delek Logistics Partners from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $44.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DKL. Cetera Investment Advisers grew its stake in Delek Logistics Partners by 31.8% in the fourth quarter. Cetera Investment Advisers now owns 25,401 shares of the oil and gas producer's stock worth $1,073,000 after purchasing an additional 6,125 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Delek Logistics Partners by 187.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 273,220 shares of the oil and gas producer's stock worth $11,546,000 after purchasing an additional 178,324 shares in the last quarter. Novem Group bought a new stake in Delek Logistics Partners during the 4th quarter valued at $705,000. Focus Financial Network Inc. boosted its position in Delek Logistics Partners by 11.0% during the 1st quarter. Focus Financial Network Inc. now owns 11,276 shares of the oil and gas producer's stock valued at $488,000 after acquiring an additional 1,116 shares in the last quarter. Finally, GraniteShares Advisors LLC boosted its position in Delek Logistics Partners by 6.5% during the 1st quarter. GraniteShares Advisors LLC now owns 62,369 shares of the oil and gas producer's stock valued at $2,698,000 after acquiring an additional 3,780 shares in the last quarter. Institutional investors own 11.75% of the company's stock.

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.