Delek Logistics Partners, LP (NYSE:DKL) Sees Large Growth in Short Interest

Delek Logistics Partners, LP (NYSE:DKL) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 148,600 shares, an increase of 438.4% from the March 31st total of 27,600 shares. Based on an average daily volume of 81,700 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

DKL has been the subject of a number of recent research reports. Truist Financial assumed coverage on shares of Delek Logistics Partners in a research report on Friday, April 19th. They issued a “buy” rating and a $46.00 target price for the company. Raymond James raised shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Tuesday, March 19th. Finally, StockNews.com upgraded shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Delek Logistics Partners Price Performance

Delek Logistics Partners stock traded up $0.46 during midday trading on Friday, hitting $39.78. The company’s stock had a trading volume of 22,342 shares, compared to its average volume of 70,984. The company has a 50-day moving average price of $41.16 and a two-hundred day moving average price of $44.22. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 13.58 and a beta of 2.07. Delek Logistics Partners has a 1-year low of $36.50 and a 1-year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. The firm had revenue of $254.15 million for the quarter, compared to analysts’ expectations of $272.51 million. Sell-side analysts forecast that Delek Logistics Partners will post 3.48 EPS for the current year.

Delek Logistics Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, March 1st were given a dividend of $0.245 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.98 annualized dividend and a yield of 2.46%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 145.52%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Delek Logistics Partners by 245.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,826 shares of the oil and gas producer’s stock worth $20,930,000 after buying an additional 344,464 shares during the period. Alps Advisors Inc. lifted its stake in Delek Logistics Partners by 13.1% in the 3rd quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock valued at $64,306,000 after buying an additional 177,242 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Delek Logistics Partners in the 3rd quarter worth approximately $492,000. AE Wealth Management LLC purchased a new position in Delek Logistics Partners in the 3rd quarter worth approximately $339,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Delek Logistics Partners by 12.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,500 shares of the oil and gas producer’s stock valued at $496,000 after buying an additional 1,289 shares during the period. 11.75% of the stock is currently owned by hedge funds and other 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.