Reuven Spiegel Sells 500 Shares of Delek Logistics Partners, L.P. (NYSE:DKL) Stock

Key Points

• Reuven Spiegel, EVP of Delek Logistics Partners, sold 500 shares at an average price of $45.00, reducing his ownership stake by 1.86% to a total of 26,434 shares.
• Delek Logistics Partners declared a quarterly dividend of $1.115 per share, an increase from the previous $1.11, reflecting a 10.0% yield.
• Analyst ratings vary, with two analysts maintaining a "sell" rating, while the stock currently has a consensus rating of "Hold" and an average target price of $44.25.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) EVP Reuven Spiegel sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $45.00, for a total value of $22,500.00. Following the completion of the sale, the executive vice president directly owned 26,434 shares of the company's stock, valued at $1,189,530. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Delek Logistics Partners Price Performance

Shares of DKL traded up $0.47 during mid-day trading on Monday, hitting $44.78. The company's stock had a trading volume of 164,557 shares, compared to its average volume of 160,159. The firm has a 50-day simple moving average of $43.45 and a 200 day simple moving average of $41.83. The firm has a market capitalization of $2.39 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.00 and a beta of 0.69. Delek Logistics Partners, L.P. has a 1-year low of $34.59 and a 1-year high of $48.00. The company has a current ratio of 1.61, a quick ratio of 1.52 and a debt-to-equity ratio of 22.02.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The firm had revenue of $249.93 million during the quarter, compared to analysts' expectations of $237.17 million. Delek Logistics Partners had a negative return on equity of 1,782.51% and a net margin of 15.88%. Analysts predict that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 8th will be issued a dividend of $1.115 per share. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 annualized dividend and a yield of 10.0%. The ex-dividend date of this dividend is Friday, August 8th. Delek Logistics Partners's payout ratio is presently 149.16%.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently bought and sold shares of DKL. Jones Financial Companies Lllp increased its position in Delek Logistics Partners by 303.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer's stock worth $52,000 after buying an additional 910 shares in the last quarter. SVB Wealth LLC purchased a new position in Delek Logistics Partners during the first quarter worth $53,000. GeoWealth Management LLC purchased a new position in Delek Logistics Partners during the fourth quarter worth $206,000. MGO One Seven LLC purchased a new position in Delek Logistics Partners during the fourth quarter worth $206,000. Finally, Stifel Financial Corp increased its position in Delek Logistics Partners by 7.5% during the fourth quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer's stock worth $215,000 after buying an additional 355 shares in the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DKL has been the subject of several recent analyst reports. Wall Street Zen cut Delek Logistics Partners from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Mizuho raised Delek Logistics Partners to a "hold" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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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