Short Interest in Delek Logistics Partners, L.P. (NYSE:DKL) Declines By 62.9%

Delek Logistics Partners, L.P. (NYSE:DKL) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 133,129 shares, a drop of 62.9% from the August 15th total of 358,771 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 135,287 shares, the short-interest ratio is currently 1.0 days.

Delek Logistics Partners Trading Up 0.3%

Shares of DKL stock traded up $0.15 during mid-day trading on Tuesday, reaching $56.64. The company’s stock had a trading volume of 125,035 shares, compared to its average volume of 94,206. The company’s 50 day simple moving average is $56.03 and its 200-day simple moving average is $53.05. Delek Logistics Partners has a 12-month low of $42.35 and a 12-month high of $61.50. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The firm has a market capitalization of $3.24 billion, a PE ratio of 19.74 and a beta of 0.44.

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

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $1.135 dividend. 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 annualized dividend and a dividend yield of 8.0%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 158.19%.

Analyst Ratings Changes

DKL has been the subject of a number of research reports. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. UBS Group began coverage on Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price objective on the stock. Finally, Zacks Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Moderate Buy” and an average price target of $55.40.

Insider Buying and Selling

In other news, EVP Reuven Spiegel acquired 1,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $50.00 per share, for a total transaction of $50,000.00. Following the acquisition, the executive vice president directly owned 29,549 shares in the company, valued at approximately $1,477,450. This represents a 3.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, President Avigal Soreq bought 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased 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 directly owned 84,782 shares in the company, valued at approximately $4,239,100. This trade represents a 3.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 15,000 shares of company stock worth $750,000 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently modified their holdings of the stock. Focus Financial Network Inc. lifted its position in Delek Logistics Partners by 2.2% during the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after acquiring an additional 300 shares in the last quarter. State of Wyoming acquired a new position in shares of Delek Logistics Partners during the first quarter worth $67,000. Sharpepoint LLC increased its stake in Delek Logistics Partners by 4.2% during the 4th quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock worth $1,760,000 after buying an additional 1,575 shares during the period. Tidal Investments LLC increased its position in shares of Delek Logistics Partners by 60.9% during the second quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock worth $379,000 after acquiring an additional 2,786 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its stake in shares of Delek Logistics Partners by 2.4% in the first 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. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

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.