Delek Logistics Partners (NYSE:DKL) Trading Up 3.4%

Delek Logistics Partners, LP (NYSE:DKL) rose 3.4% on Friday . The stock traded as high as $40.78 and last traded at $40.78. Approximately 105,780 shares changed hands during trading, an increase of 21% from the average daily volume of 87,671 shares. The stock had previously closed at $39.45.

Wall Street Analysts Forecast Growth

DKL has been the topic of several recent research reports. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $45.00 in a report on Wednesday. StockNews.com upgraded Delek Logistics Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

Delek Logistics Partners Stock Up 4.7 %

The business has a fifty day simple moving average of $40.07 and a two-hundred day simple moving average of $40.34. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.91 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The company had revenue of $264.63 million for the quarter, compared to the consensus estimate of $257.17 million. Delek Logistics Partners had a negative return on equity of 115.32% and a net margin of 11.81%. During the same period in the previous year, the business earned $0.73 earnings per share. As a group, equities analysts predict that Delek Logistics Partners, LP will post 3.27 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 10.56%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, August 9th. Delek Logistics Partners’s payout ratio is presently 157.40%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, CFO Reuven Spiegel bought 3,885 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $38.98 per share, with a total value of $151,437.30. Following the acquisition, the chief financial officer now directly owns 20,163 shares of the company’s stock, valued at $785,953.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sherri Anne Brillon acquired 2,000 shares of Delek Logistics Partners stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $39.00 per share, with a total value of $78,000.00. Following the acquisition, the director now owns 11,433 shares in the company, valued at $445,887. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Reuven Spiegel acquired 3,885 shares of Delek Logistics Partners stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the acquisition, the chief financial officer now owns 20,163 shares in the company, valued at approximately $785,953.74. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in Delek Logistics Partners during the 1st quarter worth $66,000. Van ECK Associates Corp raised its position in shares of 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 last quarter. Strategic Financial Concepts LLC raised its position in shares of Delek Logistics Partners by 4,182.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after acquiring an additional 484,571 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at $203,000. Finally, Thoroughbred Financial Services LLC raised its position in shares of Delek Logistics Partners by 9.6% during the 4th quarter. Thoroughbred Financial Services LLC now owns 7,379 shares of the oil and gas producer’s stock valued at $318,000 after acquiring an additional 648 shares during the last quarter. Institutional investors and hedge funds 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.