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

Delek Logistics Partners, LP (NYSE:DKL) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,090,000 shares, a growth of 19.5% from the March 15th total of 912,500 shares. Currently, 6.0% of the shares of the company are sold short. Based on an average daily volume of 185,500 shares, the short-interest ratio is currently 5.9 days.

Hedge Funds Weigh In On Delek Logistics Partners

A number of large investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in shares of Delek Logistics Partners by 7.5% during the fourth quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer’s stock worth $215,000 after purchasing an additional 355 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in Delek Logistics Partners by 5.6% in the 4th quarter. Focus Financial Network Inc. now owns 10,160 shares of the oil and gas producer’s stock worth $429,000 after buying an additional 542 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Delek Logistics Partners by 19.1% during the 4th quarter. Apollon Wealth Management LLC now owns 7,639 shares of the oil and gas producer’s stock worth $323,000 after buying an additional 1,223 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Delek Logistics Partners by 4.2% during the fourth quarter. Wells Fargo & Company MN now owns 30,338 shares of the oil and gas producer’s stock valued at $1,282,000 after acquiring an additional 1,223 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Delek Logistics Partners during the fourth quarter valued at approximately $64,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Raymond James increased their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.25.

Delek Logistics Partners Stock Performance

DKL stock opened at $37.87 on Wednesday. Delek Logistics Partners has a one year low of $34.59 and a one year high of $45.71. The firm’s fifty day moving average is $40.62 and its 200 day moving average is $40.75. The firm has a market cap of $2.03 billion, a PE ratio of 13.43, a P/E/G ratio of 1.28 and a beta of 1.62.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.06). The business had revenue of $209.86 million during the quarter, compared to analysts’ expectations of $240.05 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were given a $1.105 dividend. The ex-dividend date was Tuesday, February 4th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. This represents a $4.42 dividend on an annualized basis and a dividend yield of 11.67%. 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.