Key Points
- EVP Reuven Spiegel sold 250 shares on Nov. 5 at an average price of $45 (proceeds $11,250), marking a third similar sale this quarter and trimming his position by 1.01% to 24,462 shares (about $1.1M).
- Delek Logistics raised its quarterly dividend to $1.12 (annualized $4.48) for a ~10.0% yield with an ex-dividend date of Nov. 7 and payment on Nov. 13, but the dividend payout ratio is a high 151.19%, signaling potential sustainability risk.
Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) EVP Reuven Spiegel sold 250 shares of the firm's stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $45.00, for a total transaction of $11,250.00. Following the completion of the sale, the executive vice president owned 24,462 shares in the company, valued at $1,100,790. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Reuven Spiegel also recently made the following trade(s):
- On Monday, October 6th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The stock was sold at an average price of $45.00, for a total value of $11,250.00.
- On Friday, September 12th, Reuven Spiegel sold 250 shares of Delek Logistics Partners stock. The stock was sold at an average price of $45.00, for a total value of $11,250.00.
Delek Logistics Partners Stock Down 2.6%
DKL opened at $44.66 on Friday. The stock's 50 day moving average price is $44.65 and its 200 day moving average price is $43.24. The company has a debt-to-equity ratio of 69.13, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market cap of $2.39 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.02 and a beta of 0.56. Delek Logistics Partners, L.P. has a 12 month low of $34.59 and a 12 month high of $48.00.
Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The company had revenue of $246.35 million during the quarter, compared to analyst estimates of $289.07 million. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. As a group, research analysts predict that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.
Delek Logistics Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Friday, November 7th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Friday, November 7th. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.12. This represents a $4.48 annualized dividend and a yield of 10.0%. Delek Logistics Partners's dividend payout ratio is currently 151.19%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Delek Logistics Partners during the second quarter valued at $50,000. Jones Financial Companies Lllp boosted its stake in shares of Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer's stock valued at $52,000 after buying an additional 910 shares during the period. SVB Wealth LLC acquired a new stake in Delek Logistics Partners during the first quarter valued at $53,000. Farther Finance Advisors LLC grew its position in Delek Logistics Partners by 92.8% in the third quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer's stock worth $104,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Delek Logistics Partners by 245.8% during the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer's stock valued at $115,000 after buying an additional 1,910 shares in the last quarter. Institutional investors own 11.75% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have commented on DKL. Mizuho raised their target price on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Delek Logistics Partners in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $47.00.
Check Out Our Latest Stock 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.
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