Delek Logistics Partners (NYSE:DKL) EVP Mark Wayne Hobbs Acquires 4,000 Shares

Delek Logistics Partners, L.P. (NYSE:DKL) EVP Mark Wayne Hobbs purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, for a total transaction of $200,000.00. Following the purchase, the executive vice president owned 24,125 shares in the company, valued at $1,206,250. This represents a 19.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $53.66 on Tuesday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.70 and a beta of 0.46. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. Delek Logistics Partners, L.P. has a one year low of $42.35 and a one year high of $61.50. The company’s 50-day moving average is $54.30 and its 200 day moving average is $52.69.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.39). The firm had revenue of $384.76 million during the quarter, compared to analysts’ expectations of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. Sell-side analysts expect that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $1.135 dividend. This represents a $4.54 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date was Monday, August 3rd. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 158.19%.

Hedge Funds Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Pinnacle Holdings LLC purchased a new stake in Delek Logistics Partners during the second quarter valued at $1,703,000. Focus Financial Network Inc. boosted its position in Delek Logistics Partners by 2.2% in the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after purchasing an additional 300 shares during the last quarter. Avior Wealth Management LLC bought a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at about $206,000. Infrastructure Capital Advisors LLC grew its stake in shares of Delek Logistics Partners by 2.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock valued at $7,786,000 after purchasing an additional 3,596 shares during the period. Finally, Gateway Wealth Partners LLC purchased a new stake in shares of Delek Logistics Partners during the 1st quarter valued at about $222,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Mizuho upped their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Delek Logistics Partners in a research report on Friday, August 7th. Raymond James Financial reiterated an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a report on Thursday, April 30th. Finally, UBS Group began coverage on Delek Logistics Partners in a research report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.40.

Delek Logistics Partners News Roundup

Here are the key news stories impacting Delek Logistics Partners this week:

• Positive Sentiment: Company insiders made a combined investment of approximately $750,000 in DKL units on August 13. Chairman Ezra Uzi Yemin purchased 6,000 units, while President Avigal Soreq and EVPs Robert Wright, Reuven Spiegel and Mark Hobbs also bought shares. The purchases increased their individual holdings by roughly 3% to 23%, signaling management confidence in the partnership’s valuation and prospects. Chairman insider purchase filing
• Positive Sentiment: Delek Logistics raised its quarterly distribution for the third time this year, extending its record to 54 consecutive quarters of dividend growth. The increase reinforces DKL’s appeal to income-focused investors and indicates continued confidence in distributable cash flow. Dividend increase article
• Negative Sentiment: DKL announced a public offering of common units. Although the proceeds could support growth or balance-sheet needs, issuing additional units may dilute existing unitholders and pressure the unit price in the near term. The offering also adds to investor concerns given the partnership’s elevated leverage. Common-unit offering announcement

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.