Delek Logistics Partners, LP (NYSE:DKL) Sees Significant Drop in Short Interest

Delek Logistics Partners, LP (NYSE:DKL) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 912,500 shares, a decrease of 16.3% from the February 28th total of 1,090,000 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average trading volume of 192,600 shares, the short-interest ratio is currently 4.7 days.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Delek Logistics Partners by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock valued at $10,678,000 after buying an additional 31,654 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in Delek Logistics Partners in the fourth quarter worth about $482,000. Strategic Financial Concepts LLC lifted its position in shares of Delek Logistics Partners by 3,838.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock valued at $20,134,000 after buying an additional 464,343 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Delek Logistics Partners during the 4th quarter valued at approximately $621,000. Finally, Raymond James Financial Inc. bought a new stake in Delek Logistics Partners during the 4th quarter worth approximately $6,050,000. Institutional investors own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James raised their target price on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Delek Logistics Partners has a consensus rating of “Hold” and an average price target of $44.25.

Delek Logistics Partners Trading Down 2.6 %

DKL traded down $1.14 during midday trading on Thursday, reaching $42.48. The company’s stock had a trading volume of 130,231 shares, compared to its average volume of 145,306. The stock’s 50-day moving average is $42.30 and its 200-day moving average is $41.39. Delek Logistics Partners has a 1 year low of $37.02 and a 1 year high of $45.71. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). The company had revenue of $209.86 million during the quarter, compared to the consensus estimate of $240.05 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were given a $1.105 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a yield of 10.40%. Delek Logistics Partners’s payout ratio is 147.83%.

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.