Delek Logistics Partners (NYSE:DKL) EVP Reuven Spiegel Acquires 1,000 Shares

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Reuven Spiegel acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, with a total value of $50,000.00. Following the acquisition, the executive vice president owned 29,549 shares in the company, valued at approximately $1,477,450. The trade was a 3.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Delek Logistics Partners Stock Down 0.6%

Shares of DKL stock opened at $53.66 on Tuesday. Delek Logistics Partners, L.P. has a 1-year low of $42.35 and a 1-year high of $61.50. The stock’s fifty day moving average price is $54.30 and its 200 day moving average price is $52.69. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 18.70 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The business had revenue of $384.76 million during the quarter, compared to analysts’ expectations of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. On average, research analysts expect that Delek Logistics Partners, L.P. will post 3.94 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 Monday, August 10th. Investors of record on Monday, August 3rd were given a $1.135 dividend. This represents a $4.54 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s payout ratio is 158.19%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Zacks Research raised shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Delek Logistics Partners in a report on Friday, August 7th. Mizuho lifted their price objective on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Raymond James Financial reissued an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a report on Thursday, April 30th. Finally, UBS Group started coverage on Delek Logistics Partners in a research report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Delek Logistics Partners presently has an average rating of “Moderate Buy” and a consensus target price of $55.40.

Institutional Investors Weigh In On Delek Logistics Partners

A number of large investors have recently bought and sold shares of DKL. GSA Capital Partners LLP acquired a new position in Delek Logistics Partners in the 4th quarter worth approximately $1,054,000. Alps Advisors Inc. lifted its stake in Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after acquiring an additional 165,741 shares during the period. Sharpepoint LLC lifted its stake in Delek Logistics Partners by 4.2% during the 4th quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock valued at $1,760,000 after acquiring an additional 1,575 shares during the period. UBS Group AG boosted its holdings in shares of Delek Logistics Partners by 7.5% in the 4th quarter. UBS Group AG now owns 123,564 shares of the oil and gas producer’s stock valued at $5,513,000 after acquiring an additional 8,649 shares during the last quarter. Finally, Focus Financial Network Inc. increased its stake in shares of Delek Logistics Partners by 2.2% in the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Key Stories Impacting Delek Logistics Partners

Here are the key news stories impacting Delek Logistics Partners this week:

• Positive Sentiment: Company insiders made a combined investment of approximately $750,000 in DKL units on August 13. Chairman Ezra Uzi Yemin purchased 6,000 units, while President Avigal Soreq and EVPs Robert Wright, Reuven Spiegel and Mark Hobbs also bought shares. The purchases increased their individual holdings by roughly 3% to 23%, signaling management confidence in the partnership’s valuation and prospects. Chairman insider purchase filing
• Positive Sentiment: Delek Logistics raised its quarterly distribution for the third time this year, extending its record to 54 consecutive quarters of dividend growth. The increase reinforces DKL’s appeal to income-focused investors and indicates continued confidence in distributable cash flow. Dividend increase article
• Negative Sentiment: DKL announced a public offering of common units. Although the proceeds could support growth or balance-sheet needs, issuing additional units may dilute existing unitholders and pressure the unit price in the near term. The offering also adds to investor concerns given the partnership’s elevated leverage. Common-unit offering announcement

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.