Delek Logistics Partners, L.P. (NYSE:DKL) Short Interest Update

Delek Logistics Partners, L.P. (NYSE:DKL) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 273,991 shares, an increase of 105.8% from the August 31st total of 133,129 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 149,715 shares, the days-to-cover ratio is currently 1.8 days.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Yemin purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the chairman owned 168,217 shares of the company’s stock, valued at approximately $8,410,850. This represents a 3.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Avigal Soreq purchased 2,500 shares of Delek Logistics Partners stock in a transaction on Thursday, August 13th. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $125,000.00. Following the completion of the transaction, the president owned 84,782 shares of the company’s stock, valued at $4,239,100. This represents a 3.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 15,000 shares of company stock valued at $750,000 in the last three months. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. increased its stake in shares of Delek Logistics Partners by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after buying an additional 165,741 shares during the last quarter. NEOS Investment Management LLC grew its holdings in Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock worth $8,935,000 after acquiring an additional 62,267 shares in the last quarter. Infrastructure Capital Advisors LLC grew its holdings in Delek Logistics Partners by 2.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after acquiring an additional 3,596 shares in the last quarter. Castellan Group increased its position in shares of Delek Logistics Partners by 7.6% in the 1st quarter. Castellan Group now owns 91,162 shares of the oil and gas producer’s stock worth $4,536,000 after purchasing an additional 6,430 shares during the last quarter. Finally, Sharpepoint LLC increased its position in shares of Delek Logistics Partners by 4.2% in the 4th quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock worth $1,760,000 after purchasing an additional 1,575 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Stock Down 0.7%

Shares of DKL stock traded down $0.39 on Tuesday, hitting $53.24. The stock had a trading volume of 127,466 shares, compared to its average volume of 217,464. The stock’s 50 day moving average is $56.02 and its 200-day moving average is $53.20. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 18.55 and a beta of 0.44. Delek Logistics Partners has a 52-week low of $42.35 and a 52-week high of $61.50. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%.The firm had revenue of $384.76 million for the quarter, compared to analysts’ expectations of $293.64 million. As a group, research analysts expect that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $1.1350 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a dividend yield of 8.5%. Delek Logistics Partners’s dividend payout ratio is presently 158.19%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group increased their price target on Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, September 21st. Weiss Ratings lowered Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Finally, Zacks Research downgraded Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.60.

About Delek Logistics Partners

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.