Delek Logistics Partners (NYSE:DKL) Chairman Ezra Uzi Yemin Purchases 6,000 Shares

Delek Logistics Partners, L.P. (NYSE:DKL) Chairman Ezra Uzi Yemin bought 6,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the chairman directly owned 168,217 shares of the company’s stock, valued at approximately $8,410,850. The trade was a 3.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Delek Logistics Partners Trading Down 0.6%

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

Delek Logistics Partners (NYSE:DKL) last posted 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). Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%.The business had revenue of $384.76 million for the quarter, compared to analyst estimates of $293.64 million. Equities analysts predict that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.135 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a yield of 8.5%. Delek Logistics Partners’s payout ratio is presently 158.19%.

More Delek Logistics Partners News

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

Hedge Funds Weigh In On Delek Logistics Partners

A number of hedge funds have recently made changes to their positions in DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Delek Logistics Partners by 24.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after acquiring an additional 298,867 shares during the last quarter. Alps Advisors Inc. raised its holdings 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 worth $200,305,000 after purchasing an additional 165,741 shares during the last quarter. HRT Financial LP lifted its position in shares of Delek Logistics Partners by 278.3% in the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after purchasing an additional 54,959 shares during the period. Raymond James Financial Inc. lifted its position in shares of Delek Logistics Partners by 30.8% in the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after purchasing an additional 48,284 shares during the period. Finally, Pinnacle Holdings LLC bought a new stake in shares of Delek Logistics Partners in the 2nd quarter valued at $1,703,000. 11.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DKL. Mizuho upped 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 report on Tuesday, April 21st. Raymond James Financial restated an “outperform” rating and issued a $60.00 target price on shares of Delek Logistics Partners in a research report on Thursday, April 30th. UBS Group started coverage on shares of Delek Logistics Partners in a research note on Thursday, July 16th. They set a “neutral” rating and a $56.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Delek Logistics Partners in a report on Friday, August 7th. Finally, Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Delek Logistics Partners has a consensus rating of “Moderate Buy” and an average price target of $55.40.

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.