Insider Buying: Delek Logistics Partners, LP (NYSE:DKL) President Buys 2,563 Shares of Stock

Delek Logistics Partners, LP (NYSE:DKL) President Avigal Soreq bought 2,563 shares of Delek Logistics Partners stock in a transaction dated Thursday, October 10th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the transaction, the president now directly owns 46,758 shares in the company, valued at approximately $1,823,562. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Delek Logistics Partners Price Performance

Shares of Delek Logistics Partners stock opened at $39.20 on Thursday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 14.15 and a beta of 2.11. The firm’s 50-day moving average is $41.16 and its 200 day moving average is $40.24. Delek Logistics Partners, LP has a 1 year low of $37.02 and a 1 year high of $53.80.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. The company had revenue of $264.63 million for the quarter, compared to analysts’ expectations of $257.17 million. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. During the same quarter in the previous year, the business posted $0.73 EPS. On average, equities analysts expect that Delek Logistics Partners, LP will post 3.41 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a $1.09 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 dividend on an annualized basis and a yield of 11.12%. Delek Logistics Partners’s payout ratio is presently 157.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DKL shares. StockNews.com downgraded shares of Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th.

Hedge Funds Weigh In On Delek Logistics Partners

Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in Delek Logistics Partners by 76.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after acquiring an additional 1,437 shares during the period. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners during the 3rd quarter valued at about $70,000. B. Riley Wealth Advisors Inc. lifted its stake in Delek Logistics Partners by 31.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after acquiring an additional 3,215 shares during the period. HB Wealth Management LLC bought a new position in Delek Logistics Partners during the 2nd quarter valued at about $203,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Delek Logistics Partners during the 2nd quarter valued at about $456,000. 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.