Insider Buying: Delek Logistics Partners, LP (NYSE:DKL) Chairman Purchases $27,491.20 in Stock

Delek Logistics Partners, LP (NYSE:DKL) Chairman Ezra Uzi Yemin purchased 710 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost 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. This trade represents a 1.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Delek Logistics Partners Trading Up 0.4 %

Shares of NYSE:DKL opened at $39.63 on Thursday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.12 and a beta of 2.12. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $53.80. The business has a 50-day moving average price of $40.70 and a 200 day moving average price of $40.20.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results 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). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The company had revenue of $214.07 million for the quarter, compared to analysts’ expectations of $270.98 million. During the same period last year, the business earned $0.80 EPS. As a group, equities research analysts predict that Delek Logistics Partners, LP will post 3.08 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a $1.10 dividend. 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 11.10%. The ex-dividend date was Friday, November 8th. Delek Logistics Partners’s payout ratio is currently 156.03%.

Institutional Trading of Delek Logistics Partners

Several hedge funds have recently made changes to their positions in DKL. Farther Finance Advisors LLC purchased a new stake in shares of Delek Logistics Partners during the third quarter worth $49,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners during the third quarter worth approximately $70,000. Sittner & Nelson LLC purchased a new stake in shares of Delek Logistics Partners during the third quarter worth approximately $109,000. Millburn Ridgefield Corp acquired a new stake in Delek Logistics Partners in the third quarter valued at approximately $131,000. Finally, Van ECK Associates Corp lifted its stake in Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after acquiring an additional 1,437 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target on the stock. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Truist Financial increased their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday. Finally, Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. One 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.com, Delek Logistics Partners 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.