Delek Logistics Partners, LP (NYSE:DKL) Short Interest Up 6.1% in December

Delek Logistics Partners, LP (NYSE:DKL) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 910,700 shares, a growth of 6.1% from the November 30th total of 858,000 shares. Based on an average daily trading volume, of 204,900 shares, the short-interest ratio is currently 4.4 days. Currently, 5.6% of the company’s stock are short sold.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $42.26 on Thursday. The stock’s 50 day simple moving average is $39.63 and its 200 day simple moving average is $40.36. Delek Logistics Partners has a twelve month low of $37.02 and a twelve month high of $47.67. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.13 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The firm had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same period in the prior year, the business earned $0.80 EPS. On average, analysts forecast that Delek Logistics Partners will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 10.41%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio is 156.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial raised their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. StockNews.com cut shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America began coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Delek Logistics Partners currently has a consensus rating of “Hold” and an average target price of $44.00.

Insider Activity at Delek Logistics Partners

In related news, CFO Reuven Spiegel purchased 1,282 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were acquired at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the purchase, the chief financial officer now owns 20,223 shares of the company’s stock, valued at $788,697. The trade was a 6.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ezra Uzi Yemin acquired 3,750 shares of Delek Logistics Partners stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $39.95 per share, with a total value of $149,812.50. Following the transaction, the chairman now owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. The trade was a 2.37 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,884 shares of company stock valued at $467,095. 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 made changes to their positions in the business. Van ECK Associates Corp boosted its stake in Delek Logistics Partners by 76.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after purchasing an additional 1,437 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after acquiring an additional 484,571 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Delek Logistics Partners in the second quarter worth $456,000. Sanctuary Advisors LLC bought a new position in Delek Logistics Partners during the second quarter worth $522,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Delek Logistics Partners during the 3rd quarter valued at $70,000. 11.75% of the stock is owned by institutional investors and hedge funds.

Delek Logistics Partners Company Profile

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.