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

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 dated Tuesday, July 29th. The stock was sold at an average price of $45.00, for a total transaction of $22,500.00. Following the sale, the executive vice president owned 26,434 shares of the company's stock, valued at approximately $1,189,530. This represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, August 4th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The stock was sold at an average price of $45.00, for a total transaction of $11,250.00.

Delek Logistics Partners Trading Down 0.1%

Delek Logistics Partners stock traded down $0.05 during mid-day trading on Friday, hitting $43.86. The company's stock had a trading volume of 58,574 shares, compared to its average volume of 159,226. The company has a debt-to-equity ratio of 22.02, a quick ratio of 1.52 and a current ratio of 1.61. The company has a 50 day moving average of $43.67 and a 200-day moving average of $41.86. Delek Logistics Partners, L.P. has a one year low of $34.59 and a one year high of $48.00. The stock has a market cap of $2.34 billion, a PE ratio of 14.83, a P/E/G ratio of 0.99 and a beta of 0.69.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The company had revenue of $246.35 million during the quarter, compared to the consensus estimate of $289.07 million. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 2,563.77%. On average, research analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 8th will be paid a $1.115 dividend. The ex-dividend date is Friday, August 8th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.46 dividend on an annualized basis and a dividend yield of 10.2%. Delek Logistics Partners's dividend payout ratio (DPR) is currently 148.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Mizuho upgraded shares of Delek Logistics Partners to a "hold" rating in a research report on Thursday, June 26th. Wall Street Zen cut Delek Logistics Partners from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Delek Logistics Partners presently has a consensus rating of "Hold" and an average target price of $44.25.

Institutional Trading of Delek Logistics Partners

A number of hedge funds have recently added to or reduced their stakes in DKL. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 31.3% in the 1st quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer's stock worth $186,722,000 after buying an additional 1,028,497 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Delek Logistics Partners by 26.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,224,195 shares of the oil and gas producer's stock valued at $52,959,000 after purchasing an additional 254,213 shares during the last quarter. Bank of Montreal Can purchased a new position in Delek Logistics Partners in the 4th quarter valued at $17,819,000. Cohen & Steers Inc. acquired a new stake in Delek Logistics Partners during the 4th quarter worth $11,805,000. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Delek Logistics Partners by 187.9% during 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 buying an additional 178,324 shares in the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.