Delek Logistics Partners, LP (NYSE:DKL) Short Interest Up 58.8% in March

Delek Logistics Partners, LP (NYSE:DKL) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 49,700 shares, an increase of 58.8% from the February 29th total of 31,300 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 67,000 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Tuesday, March 19th.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors have recently made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of Delek Logistics Partners by 0.8% during the 1st quarter. LPL Financial LLC now owns 28,885 shares of the oil and gas producer’s stock valued at $1,370,000 after purchasing an additional 239 shares in the last quarter. Wells Fargo & Company MN grew its stake in Delek Logistics Partners by 0.8% in the 2nd quarter. Wells Fargo & Company MN now owns 33,424 shares of the oil and gas producer’s stock valued at $1,825,000 after acquiring an additional 256 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in Delek Logistics Partners by 2.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 23,671 shares of the oil and gas producer’s stock valued at $1,071,000 after acquiring an additional 468 shares during the period. Vident Investment Advisory LLC grew its stake in Delek Logistics Partners by 7.6% in the 1st quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock valued at $312,000 after acquiring an additional 499 shares during the period. Finally, Royal Bank of Canada grew its stake in Delek Logistics Partners by 6.7% in the 1st quarter. Royal Bank of Canada now owns 8,000 shares of the oil and gas producer’s stock valued at $352,000 after acquiring an additional 500 shares during the period. 11.75% of the stock is owned by hedge funds and other institutional investors.

Delek Logistics Partners Stock Up 0.1 %

Shares of Delek Logistics Partners stock traded up $0.05 during midday trading on Friday, hitting $40.99. The company had a trading volume of 106,386 shares, compared to its average volume of 140,079. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 14.09 and a beta of 2.08. The company has a fifty day simple moving average of $43.62 and a 200 day simple moving average of $44.60. Delek Logistics Partners has a 12-month low of $36.50 and a 12-month high of $58.81.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $254.15 million during the quarter, compared to analyst estimates of $272.51 million. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. As a group, analysts expect that Delek Logistics Partners will post 3.48 EPS for the current year.

Delek Logistics Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 1st were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 29th. Delek Logistics Partners’s dividend payout ratio is presently 145.52%.

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.