Delek Logistics Partners, LP (NYSE:DKL) Short Interest Update

Delek Logistics Partners, LP (NYSE:DKL) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 148,600 shares, an increase of 438.4% from the March 31st total of 27,600 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 81,700 shares, the days-to-cover ratio is currently 1.8 days.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial assumed coverage on Delek Logistics Partners in a research note on Friday, April 19th. They issued a “buy” rating and a $46.00 price objective for the company. StockNews.com raised 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 objective for the company in a research note on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL traded up $0.85 during trading on Friday, hitting $40.17. The company had a trading volume of 148,962 shares, compared to its average volume of 73,744. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 13.85 and a beta of 2.07. Delek Logistics Partners has a one year low of $36.50 and a one year high of $58.81. The company has a fifty day simple moving average of $41.06 and a two-hundred day simple moving average of $44.20.

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

Delek Logistics Partners Increases Dividend

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

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently modified their holdings of DKL. Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners in the 1st quarter worth $66,000. Spirit of America Management Corp NY acquired a new stake in shares of Delek Logistics Partners in the 4th quarter worth $86,000. Citigroup Inc. acquired a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $88,000. Fifth Third Bancorp acquired a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $103,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $210,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

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.