Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) Chairman Ezra Uzi Yemin purchased 710 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $38.72 per share, for a total transaction of $27,491.20. Following the purchase, the chairman now directly owns 54,851 shares in the company, valued at $2,123,830.72. The trade was a 1.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Delek Logistics Partners Stock Performance
Shares of NYSE:DKL opened at $38.96 on Tuesday. The firm's 50 day moving average is $40.78 and its two-hundred day moving average is $40.21. The firm has a market capitalization of $2.01 billion, a P/E ratio of 13.69, a PEG ratio of 1.12 and a beta of 2.12. Delek Logistics Partners, LP has a 52 week low of $37.02 and a 52 week high of $53.80.
Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.19). The business had revenue of $214.07 million for the quarter, compared to the consensus estimate 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 posted $0.80 EPS. Analysts predict that Delek Logistics Partners, LP will post 3.08 EPS for the current year.
Delek Logistics Partners Increases Dividend
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The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a dividend of $1.10 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, November 8th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 11.29%. Delek Logistics Partners's payout ratio is currently 156.03%.
Institutional Investors Weigh In On Delek Logistics Partners
Institutional investors have recently bought and sold shares of the business. Westwood Holdings Group Inc. purchased a new stake in Delek Logistics Partners in the 1st quarter worth approximately $12,656,000. IFG Advisory LLC acquired a new stake in Delek Logistics Partners during the second quarter valued at $640,000. Strategic Financial Concepts LLC boosted its position 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 valued at $201,000 after purchasing an additional 484,571 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Delek Logistics Partners by 31.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer's stock valued at $563,000 after purchasing an additional 3,215 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Delek Logistics Partners in the 2nd quarter worth about $522,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on DKL shares. Bank of America began coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $36.00 target price on the stock. Citigroup raised shares of Delek Logistics Partners from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com cut shares of Delek Logistics Partners from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Truist Financial raised their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $44.00.
View Our Latest Analysis on DKL
About Delek Logistics Partners
(
Get Free Report)
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.
Further Reading
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