Delek Logistics Partners, LP (NYSE:DKL) Sees Significant Decline in Short Interest

Delek Logistics Partners, LP (NYSE:DKL) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 912,500 shares, a drop of 16.3% from the February 28th total of 1,090,000 shares. Approximately 5.0% of the company’s shares are short sold. Based on an average daily volume of 192,600 shares, the short-interest ratio is currently 4.7 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC increased its stake in shares of Delek Logistics Partners by 3,838.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock valued at $20,134,000 after buying an additional 464,343 shares during the period. Bank of Montreal Can purchased a new position in Delek Logistics Partners during the 4th quarter valued at about $17,819,000. ING Groep NV raised its holdings in shares of Delek Logistics Partners by 2,491.7% in the 4th quarter. ING Groep NV now owns 311,000 shares of the oil and gas producer’s stock valued at $13,143,000 after purchasing an additional 299,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Delek Logistics Partners by 42.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 969,982 shares of the oil and gas producer’s stock worth $40,991,000 after purchasing an additional 288,033 shares during the period. Finally, Cohen & Steers Inc. bought a new position in shares of Delek Logistics Partners during the fourth quarter valued at approximately $11,805,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners Stock Up 0.2 %

DKL traded up $0.07 during trading hours on Wednesday, reaching $43.63. 95,357 shares of the company’s stock traded hands, compared to its average volume of 145,302. The firm has a 50-day moving average price of $42.31 and a 200 day moving average price of $41.37. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $45.71. The firm has a market capitalization of $2.34 billion, a PE ratio of 15.47, a PEG ratio of 1.28 and a beta of 2.01.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The company had revenue of $209.86 million for 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%. Equities analysts predict that Delek Logistics Partners will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were paid a $1.105 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $4.42 annualized dividend and a yield of 10.13%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio is 147.83%.

Analyst Ratings Changes

Separately, Raymond James raised 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 issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.25.

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.