Short Interest in Delek Logistics Partners, LP (NYSE:DKL) Expands By 438.4%

Delek Logistics Partners, LP (NYSE:DKL) was the target of a large growth in short interest in 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. Based on an average trading volume of 81,700 shares, the short-interest ratio is presently 1.8 days. Approximately 1.2% of the shares of the company are short sold.

Delek Logistics Partners Stock Performance

Shares of DKL stock traded down $0.06 during trading hours on Thursday, hitting $39.39. The company had a trading volume of 41,059 shares, compared to its average volume of 71,589. Delek Logistics Partners has a 12 month low of $36.50 and a 12 month high of $58.81. The firm’s fifty day moving average is $41.16 and its 200 day moving average is $44.22. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.58 and a beta of 2.07.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $254.15 million for the quarter, compared to the consensus estimate of $272.51 million. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. On average, sell-side analysts expect that Delek Logistics Partners will post 3.48 EPS for the current fiscal year.

Delek Logistics Partners Cuts Dividend

The firm also recently disclosed 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 2.49%. The ex-dividend date was Thursday, February 29th. Delek Logistics Partners’s dividend payout ratio is currently 145.52%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Delek Logistics Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its position in shares of Delek Logistics Partners by 48.8% during the third quarter. National Bank of Canada FI now owns 10,972 shares of the oil and gas producer’s stock worth $441,000 after purchasing an additional 3,597 shares in the last quarter. AE Wealth Management LLC acquired a new position in Delek Logistics Partners during the 3rd quarter worth $339,000. Exchange Traded Concepts LLC increased its stake in shares of Delek Logistics Partners by 24.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 10,211 shares of the oil and gas producer’s stock valued at $429,000 after buying an additional 2,008 shares during the period. Fifth Third Bancorp bought a new stake in shares of Delek Logistics Partners during the third quarter worth $103,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Delek Logistics Partners during the third quarter worth $492,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.