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

Delek Logistics Partners, LP (NYSE:DKL) was the recipient of a significant 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 daily volume of 81,700 shares, the short-interest ratio is currently 1.8 days. Approximately 1.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DKL. Truist Financial began coverage on shares of Delek Logistics Partners in a research report on Friday, April 19th. They set a “buy” rating and a $46.00 price objective on the stock. Raymond James raised shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Tuesday, March 19th. Finally, StockNews.com raised shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Delek Logistics Partners has an average rating of “Moderate Buy” and an average price target of $45.33.

Institutional Trading of Delek Logistics Partners

A number of institutional investors and hedge funds have recently modified their holdings of DKL. National Bank of Canada FI lifted its stake in shares of Delek Logistics Partners by 48.8% in 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 buying an additional 3,597 shares during the last quarter. AE Wealth Management LLC bought a new position in Delek Logistics Partners during the third quarter worth $339,000. Exchange Traded Concepts LLC increased its position in Delek Logistics Partners by 24.5% during the third quarter. Exchange Traded Concepts LLC now owns 10,211 shares of the oil and gas producer’s stock worth $429,000 after acquiring an additional 2,008 shares during the period. Fifth Third Bancorp bought a new position in Delek Logistics Partners during the third quarter worth $103,000. Finally, Strategic Financial Concepts LLC bought a new position in 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 Trading Up 2.2 %

NYSE DKL traded up $0.85 during trading on Friday, reaching $40.17. The company’s stock had a trading volume of 148,962 shares, compared to its average volume of 73,744. The stock has a market capitalization of $1.75 billion, a PE ratio of 13.85 and a beta of 2.07. The business has a 50-day moving average price of $41.06 and a 200-day moving average price of $44.20. Delek Logistics Partners has a 1-year low of $36.50 and a 1-year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $254.15 million during the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a $1.025 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 10.21%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, May 7th. Delek Logistics Partners’s payout ratio is presently 145.52%.

About Delek Logistics Partners

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.