Delek Logistics Partners (NYSE:DKL) Share Price Passes Above 200-Day Moving Average of $40.09

Delek Logistics Partners, LP (NYSE:DKL)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.09 and traded as high as $44.62. Delek Logistics Partners shares last traded at $43.98, with a volume of 45,491 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DKL. Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Delek Logistics Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

Delek Logistics Partners Stock Down 1.9 %

The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.59 and a beta of 2.11. The business’s 50-day moving average is $40.66 and its two-hundred day moving average is $40.08.

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 (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. The firm had revenue of $264.63 million during 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 period last year, the business earned $0.73 earnings per share. As a group, analysts forecast that Delek Logistics Partners, LP will post 3.41 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.36 dividend on an annualized basis and a yield of 10.10%. Delek Logistics Partners’s dividend payout ratio is 157.40%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Delek Logistics Partners by 205.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock worth $60,775,000 after purchasing an additional 997,860 shares during the period. GSA Capital Partners LLP lifted its position in shares of Delek Logistics Partners by 263.8% during the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock valued at $1,539,000 after acquiring an additional 27,217 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Delek Logistics Partners during the 1st quarter worth approximately $12,656,000. Strategic Financial Concepts LLC boosted its stake 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 worth $201,000 after acquiring an additional 484,571 shares in the last quarter. Finally, IFG Advisory LLC acquired a new stake in shares of Delek Logistics Partners in the 2nd quarter worth approximately $640,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.