Delek Logistics Partners, LP (NYSE:DKL – Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $48.14 and traded as low as $41.00. Delek Logistics Partners shares last traded at $41.37, with a volume of 40,481 shares trading hands.
Wall Street Analysts Forecast Growth
DKL has been the subject of a number of analyst reports. Citigroup raised Delek Logistics Partners from a “sell” rating to a “neutral” rating and cut their price target for the stock from $47.00 to $45.00 in a report on Friday, September 8th. TheStreet downgraded Delek Logistics Partners from a “b-” rating to a “c+” rating in a research report on Thursday, August 17th. Finally, StockNews.com initiated coverage on Delek Logistics Partners in a research report on Thursday, August 17th. They issued a “hold” rating for the company.
Delek Logistics Partners Stock Down 0.3 %
Delek Logistics Partners (NYSE:DKL – Get Free Report) last posted its earnings results on Monday, August 7th. The oil and gas producer reported $0.73 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.08). The business had revenue of $246.91 million for the quarter, compared to analyst estimates of $281.25 million. Delek Logistics Partners had a negative return on equity of 132.78% and a net margin of 14.87%. During the same period in the previous year, the company earned $0.74 earnings per share. On average, equities analysts expect that Delek Logistics Partners, LP will post 3.25 earnings per share for the current fiscal year.
Delek Logistics Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a $1.035 dividend. The ex-dividend date was Friday, August 4th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.14 dividend on an annualized basis and a dividend yield of 10.01%. Delek Logistics Partners’s payout ratio is presently 115.00%.
Insider Activity at Delek Logistics Partners
In other news, Chairman Ezra Uzi Yemin sold 1,776 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $56.12, for a total value of $99,669.12. Following the transaction, the chairman now directly owns 171,131 shares of the company’s stock, valued at approximately $9,603,871.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Ezra Uzi Yemin sold 1,776 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $56.12, for a total value of $99,669.12. Following the completion of the transaction, the chairman now directly owns 171,131 shares of the company’s stock, valued at approximately $9,603,871.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Avigal Soreq acquired 2,450 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $41.48 per share, with a total value of $101,626.00. Following the completion of the purchase, the president now owns 27,801 shares in the company, valued at $1,153,185.48. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of DKL. LPL Financial LLC increased its holdings in shares of Delek Logistics Partners by 0.8% during the first quarter. LPL Financial LLC now owns 28,885 shares of the oil and gas producer’s stock worth $1,370,000 after purchasing an additional 239 shares during the period. Thoroughbred Financial Services LLC boosted its position in Delek Logistics Partners by 2.1% in the first quarter. Thoroughbred Financial Services LLC now owns 12,137 shares of the oil and gas producer’s stock valued at $575,000 after buying an additional 249 shares in the last quarter. Wells Fargo & Company MN boosted its position in Delek Logistics Partners by 0.8% in the second quarter. Wells Fargo & Company MN now owns 33,424 shares of the oil and gas producer’s stock valued at $1,825,000 after buying an additional 256 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Delek Logistics Partners by 4.6% during the first quarter. Virtu Financial LLC now owns 7,894 shares of the oil and gas producer’s stock worth $374,000 after purchasing an additional 345 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in Delek Logistics Partners by 2.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 23,671 shares of the oil and gas producer’s stock worth $1,071,000 after buying an additional 468 shares during the last quarter. 12.56% of the stock is owned by institutional investors.
Delek Logistics Partners Company Profile
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 four segments: Gathering and Processing, Wholesale Marketing and Terminalling, Storage and Transportation, and Investment in Pipeline Joint Ventures.
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