Delek Logistics Partners (NYSE:DKL) Stock Passes Above 200-Day Moving Average of $53.41

Delek Logistics Partners, LP (NYSE:DKLGet Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $53.41 and traded as high as $55.76. Delek Logistics Partners shares last traded at $54.96, with a volume of 53,667 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Delek Logistics Partners in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Delek Logistics Partners Price Performance

The company has a market cap of $2.33 billion, a PE ratio of 14.73 and a beta of 2.19. The stock has a 50 day simple moving average of $53.58 and a two-hundred day simple moving average of $53.41.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, November 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 7.39%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.99. The ex-dividend date was Thursday, November 3rd. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 108.79%.

Insider Activity

In related news, CFO Reuven Spiegel sold 500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the sale, the chief financial officer now directly owns 14,592 shares of the company’s stock, valued at $902,952.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Reuven Spiegel sold 500 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the transaction, the chief financial officer now directly owns 14,592 shares in the company, valued at $902,952.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Ezra Uzi Yemin sold 23,136 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $56.14, for a total transaction of $1,298,855.04. Following the completion of the sale, the chairman now owns 242,682 shares of the company’s stock, valued at approximately $13,624,167.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,359 shares of company stock valued at $2,212,833. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Thoroughbred Financial Services LLC boosted its position in shares of Delek Logistics Partners by 2.2% during the 1st quarter. Thoroughbred Financial Services LLC now owns 11,235 shares of the oil and gas producer’s stock worth $494,000 after purchasing an additional 246 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Delek Logistics Partners by 19.5% during the first quarter. Commonwealth Equity Services LLC now owns 6,580 shares of the oil and gas producer’s stock worth $289,000 after buying an additional 1,075 shares in the last quarter. GraniteShares Advisors LLC grew its position in Delek Logistics Partners by 9.7% during the first quarter. GraniteShares Advisors LLC now owns 17,713 shares of the oil and gas producer’s stock worth $779,000 after buying an additional 1,568 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Delek Logistics Partners by 27.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 893,915 shares of the oil and gas producer’s stock valued at $39,323,000 after buying an additional 192,779 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Delek Logistics Partners by 15.6% during the 1st quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer’s stock valued at $8,613,000 after acquiring an additional 26,425 shares during the period. Institutional investors and hedge funds own 10.77% of the company’s stock.

About Delek Logistics Partners

(Get Rating)

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates through three segments: Pipelines and Transportation, Wholesale Marketing and Terminalling, and Investment in Pipeline Joint Ventures. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and refined products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties.

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