Delek Logistics Partners, LP (NYSE:DKL) Short Interest Down 6.6% in September

Delek Logistics Partners, LP (NYSE:DKL) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 414,200 shares, a decrease of 6.6% from the September 15th total of 443,400 shares. Based on an average daily volume of 113,800 shares, the short-interest ratio is presently 3.6 days. Approximately 3.4% of the shares of the company are sold short.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, CFO Reuven Spiegel purchased 3,885 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were acquired at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the transaction, the chief financial officer now owns 20,163 shares of the company’s stock, valued at approximately $785,953.74. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Avigal Soreq acquired 2,563 shares of Delek Logistics Partners stock in a transaction dated Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, with a total value of $99,957.00. Following the completion of the purchase, the president now directly owns 46,758 shares in the company, valued at approximately $1,823,562. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Reuven Spiegel acquired 3,885 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $38.98 per share, with a total value of $151,437.30. Following the completion of the purchase, the chief financial officer now owns 20,163 shares of the company’s stock, valued at approximately $785,953.74. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,934 shares of company stock worth $504,348 over the last quarter. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new stake in shares of Delek Logistics Partners in the 1st quarter worth about $66,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Delek Logistics Partners by 205.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock worth $60,775,000 after acquiring an additional 997,860 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Delek Logistics Partners by 263.8% in the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock worth $1,539,000 after acquiring an additional 27,217 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new stake in shares of Delek Logistics Partners in the 1st quarter worth about $10,304,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Delek Logistics Partners in the 1st quarter worth about $12,656,000. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Performance

DKL opened at $38.86 on Friday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 14.03 and a beta of 2.11. The company has a fifty day moving average of $41.14 and a 200 day moving average of $40.23. Delek Logistics Partners has a fifty-two week low of $37.02 and a fifty-two week high of $53.80.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The business had revenue of $264.63 million during the quarter, compared to analyst estimates of $257.17 million. During the same quarter last year, the business earned $0.73 earnings per share. On average, equities research analysts forecast that Delek Logistics Partners will post 3.41 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were given a dividend of $1.09 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 annualized dividend and a yield of 11.22%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is 157.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. Bank of America assumed coverage on shares of Delek Logistics Partners in a research note on Thursday. They issued an “underperform” rating and a $36.00 price objective for the company. Finally, StockNews.com cut shares of Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.