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

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

Delek Logistics Partners Trading Up 1.2 %

Shares of DKL stock traded up $0.46 on Friday, reaching $39.78. The company had a trading volume of 22,342 shares, compared to its average volume of 70,984. The stock has a market cap of $1.74 billion, a PE ratio of 13.58 and a beta of 2.07. The company has a 50-day moving average of $41.16 and a 200-day moving average of $44.22. Delek Logistics Partners has a 12 month low of $36.50 and a 12 month high of $58.81.

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

Delek Logistics Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 1st were paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 29th. Delek Logistics Partners’s payout ratio is currently 145.52%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of large investors have recently added to or reduced their stakes in DKL. Mirae Asset Global Investments Co. Ltd. increased its stake in Delek Logistics Partners by 245.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,826 shares of the oil and gas producer’s stock valued at $20,930,000 after buying an additional 344,464 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Delek Logistics Partners by 13.1% in the third quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock valued at $64,306,000 after acquiring an additional 177,242 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Delek Logistics Partners during the third quarter worth about $492,000. AE Wealth Management LLC acquired a new position in Delek Logistics Partners during the third quarter valued at approximately $339,000. Finally, Exchange Traded Concepts LLC grew its stake in Delek Logistics Partners by 12.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,500 shares of the oil and gas producer’s stock valued at $496,000 after purchasing an additional 1,289 shares in the last quarter. Institutional investors own 11.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DKL shares. StockNews.com upgraded Delek Logistics Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Truist Financial started coverage on Delek Logistics Partners in a report on Friday, April 19th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Raymond James raised Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.33.

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.