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

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

Hedge Funds Weigh In On Delek Logistics Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC boosted its stake in Delek Logistics Partners by 0.8% in the first quarter. LPL Financial LLC now owns 28,885 shares of the oil and gas producer’s stock valued at $1,370,000 after acquiring an additional 239 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Delek Logistics Partners by 0.8% during the second quarter. Wells Fargo & Company MN now owns 33,424 shares of the oil and gas producer’s stock worth $1,825,000 after purchasing an additional 256 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Delek Logistics Partners by 2.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 23,671 shares of the oil and gas producer’s stock worth $1,071,000 after purchasing an additional 468 shares in the last quarter. Vident Investment Advisory LLC boosted its position in shares of Delek Logistics Partners by 7.6% during the first quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock worth $312,000 after purchasing an additional 499 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Delek Logistics Partners by 6.7% during the first quarter. Royal Bank of Canada now owns 8,000 shares of the oil and gas producer’s stock worth $352,000 after purchasing an additional 500 shares in the last quarter. 11.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Delek Logistics Partners Trading Up 0.1 %

Shares of DKL traded up $0.05 during mid-day trading on Friday, hitting $40.99. 106,386 shares of the company traded hands, compared to its average volume of 140,079. Delek Logistics Partners has a one year low of $36.50 and a one year high of $58.81. The business has a 50-day moving average of $43.62 and a 200 day moving average of $44.60. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.09 and a beta of 2.08.

Delek Logistics Partners (NYSE:DKL) last released its quarterly 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. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. The business had revenue of $254.15 million for the quarter, compared to analysts’ expectations of $272.51 million. As a group, analysts anticipate that Delek Logistics Partners will post 3.48 earnings per share for the current 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. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.98 dividend on an annualized basis and a yield of 2.39%. Delek Logistics Partners’s 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.