Delek Logistics Partners (NYSE:DKL) Sees Strong Trading Volume

Shares of Delek Logistics Partners, LP (NYSE:DKLGet Rating) saw strong trading volume on Friday . 18,263 shares were traded during mid-day trading, a decline of 85% from the previous session’s volume of 122,429 shares.The stock last traded at $56.91 and had previously closed at $58.77.

Analysts Set New Price Targets

Separately, StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Friday, August 5th.

Delek Logistics Partners Stock Down 4.7 %

The business has a 50 day moving average of $55.71 and a 200 day moving average of $50.87. The company has a market capitalization of $2.44 billion, a P/E ratio of 15.52 and a beta of 2.24.

Delek Logistics Partners (NYSE:DKLGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.17). Delek Logistics Partners had a net margin of 18.41% and a negative return on equity of 145.45%. The firm had revenue of $266.75 million for the quarter, compared to the consensus estimate of $211.67 million. On average, research analysts anticipate that Delek Logistics Partners, LP will post 4.19 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, August 4th were given a dividend of $0.985 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.98. This represents a $3.94 dividend on an annualized basis and a yield of 7.03%. Delek Logistics Partners’s dividend payout ratio is 109.14%.

Insider Buying and Selling at Delek Logistics Partners

In other Delek Logistics Partners news, CFO Reuven Spiegel sold 500 shares of the company’s stock in a transaction that occurred 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 sale, 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 the SEC website. In other Delek Logistics Partners news, CFO Reuven Spiegel sold 500 shares of the company’s stock in a transaction that occurred 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 sale, 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 the SEC website. Also, Director Charles J. Brown III sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $59.95, for a total value of $479,600.00. Following the sale, the director now owns 10,752 shares in the company, valued at $644,582.40. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently modified their holdings of DKL. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Delek Logistics Partners by 28.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,149,963 shares of the oil and gas producer’s stock worth $56,003,000 after buying an additional 256,048 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Delek Logistics Partners by 15.6% in the first quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer’s stock worth $8,613,000 after buying an additional 26,425 shares during the period. B. Riley Wealth Management Inc. purchased a new stake in shares of Delek Logistics Partners in the second quarter worth approximately $1,187,000. First Trust Advisors LP raised its holdings in shares of Delek Logistics Partners by 27.6% in the first quarter. First Trust Advisors LP now owns 89,835 shares of the oil and gas producer’s stock worth $3,952,000 after buying an additional 19,430 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Delek Logistics Partners in the second quarter worth approximately $652,000. 10.77% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

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