Delek Logistics Partners, LP (NYSE:DKL) Short Interest Update

Delek Logistics Partners, LP (NYSE:DKL) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 443,400 shares, a decline of 8.9% from the August 31st total of 486,500 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily trading volume, of 89,400 shares, the days-to-cover ratio is currently 5.0 days.

Delek Logistics Partners Trading Up 0.1 %

DKL stock traded up $0.06 during trading hours on Tuesday, hitting $43.78. 72,661 shares of the stock were exchanged, compared to its average volume of 87,660. Delek Logistics Partners has a 12 month low of $37.02 and a 12 month high of $53.80. The firm has a market capitalization of $2.07 billion, a P/E ratio of 15.81 and a beta of 2.11. The company has a 50-day simple moving average of $40.92 and a two-hundred day simple moving average of $40.15.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The business had revenue of $264.63 million during the quarter, compared to analysts’ expectations of $257.17 million. During the same quarter in the previous year, the company earned $0.73 EPS. On average, equities research analysts predict that Delek Logistics Partners will post 3.41 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a $1.09 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.36 annualized dividend and a dividend yield of 9.96%. The ex-dividend date of this dividend was Friday, August 9th. Delek Logistics Partners’s payout ratio is 157.40%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DKL. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $45.00 in a research note on Wednesday, August 28th. StockNews.com cut shares of Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th.

Insiders Place Their Bets

In related news, CFO Reuven Spiegel bought 3,885 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average price of $38.98 per share, with a total value of $151,437.30. Following the completion of the transaction, the chief financial officer now owns 20,163 shares in the company, valued at $785,953.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sherri Anne Brillon acquired 2,000 shares of the stock in a transaction dated Monday, August 19th. The shares were bought at an average cost of $39.00 per share, for a total transaction of $78,000.00. Following the purchase, the director now directly owns 11,433 shares of the company’s stock, valued at $445,887. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Reuven Spiegel acquired 3,885 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price of $38.98 per share, for a total transaction of $151,437.30. Following the purchase, the chief financial officer now directly owns 20,163 shares of the company’s stock, valued at $785,953.74. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at $522,000. Susquehanna Fundamental Investments LLC acquired a new position in Delek Logistics Partners in the second quarter valued at about $456,000. Strategic Financial Concepts LLC lifted its position in Delek Logistics Partners by 4,182.7% during the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock worth $201,000 after purchasing an additional 484,571 shares during the period. Van ECK Associates Corp grew its stake in Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after buying an additional 1,437 shares in the last quarter. Finally, IFG Advisory LLC acquired a new stake in Delek Logistics Partners during the second quarter worth about $640,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.