Avigal Soreq Buys 375 Shares of Delek Logistics Partners, LP (NYSE:DKL) Stock

Delek Logistics Partners, LP (NYSE:DKL) President Avigal Soreq purchased 375 shares of the stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $39.68 per share, with a total value of $14,880.00. Following the acquisition, the president now owns 45,537 shares in the company, valued at approximately $1,806,908.16. The trade was a 0.83 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were purchased at an average price of $39.00 per share, with a total value of $99,957.00.

Delek Logistics Partners Price Performance

Shares of DKL opened at $39.95 on Thursday. Delek Logistics Partners, LP has a one year low of $37.02 and a one year high of $47.67. The company has a market cap of $2.06 billion, a PE ratio of 14.17, a P/E/G ratio of 1.13 and a beta of 2.12. The stock has a 50-day moving average of $39.22 and a 200-day moving average of $40.24.

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

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s payout ratio is 156.03%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th. Bank of America began coverage on 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. Truist Financial lifted their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new stake in shares of Delek Logistics Partners during the third quarter worth about $49,000. Future Financial Wealth Managment LLC bought a new stake in Delek Logistics Partners during the 3rd quarter worth approximately $70,000. Sittner & Nelson LLC bought a new stake in Delek Logistics Partners during the 3rd quarter worth approximately $109,000. Millburn Ridgefield Corp purchased a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $131,000. Finally, Van ECK Associates Corp lifted its holdings in shares of 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 valued at $135,000 after purchasing an additional 1,437 shares in the last quarter. 11.75% of the stock is owned by institutional investors.

About Delek Logistics Partners

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.