Insider Buying: Delek Logistics Partners, LP (NYSE:DKL) President Buys $14,880.00 in Stock

Delek Logistics Partners, LP (NYSE:DKL) President Avigal Soreq purchased 375 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $39.68 per share, for a total transaction of $14,880.00. Following the purchase, the president now directly owns 45,537 shares in the company, valued at $1,806,908.16. This represents a 0.83 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Avigal Soreq also recently made the following trade(s):

• On Thursday, October 10th, Avigal Soreq acquired 2,563 shares of Delek Logistics Partners stock. The stock was bought at an average price of $39.00 per share, for a total transaction of $99,957.00.

Delek Logistics Partners Stock Performance

Shares of NYSE DKL opened at $39.99 on Friday. The firm has a 50 day moving average price of $39.23 and a 200 day moving average price of $40.24. The stock has a market cap of $2.06 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.13 and a beta of 2.12. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $47.67.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The business had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same quarter last year, the business earned $0.80 earnings per share. Analysts predict that Delek Logistics Partners, LP will post 3.05 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a dividend of $1.10 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 11.00%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners’s payout ratio is currently 156.03%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Strategic Financial Concepts LLC grew its stake in Delek Logistics Partners by 4,182.7% during the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock worth $201,000 after purchasing an additional 484,571 shares during the period. IFG Advisory LLC acquired a new stake in Delek Logistics Partners in the second quarter worth $640,000. Sanctuary Advisors LLC acquired a new position in shares of Delek Logistics Partners during the second quarter valued at about $522,000. Infrastructure Capital Advisors LLC increased its position in Delek Logistics Partners by 18.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock valued at $11,055,000 after buying an additional 39,577 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in Delek Logistics Partners in the second quarter worth approximately $203,000. 11.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on DKL. Bank of America initiated coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target for the company. StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Truist Financial boosted their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $45.00 in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.00.

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.