Delek Logistics Partners, LP (NYSE:DKL) Sees Significant Decline in Short Interest

Delek Logistics Partners, LP (NYSE:DKL) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 443,400 shares, a drop of 8.9% from the August 31st total of 486,500 shares. Based on an average trading volume of 89,400 shares, the days-to-cover ratio is currently 5.0 days. Currently, 3.6% of the shares of the stock are sold short.

Insider Buying and Selling at Delek Logistics Partners

In other news, CFO Reuven Spiegel acquired 3,885 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were 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 $785,953.74. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Sherri Anne Brillon purchased 2,000 shares of Delek Logistics Partners stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $39.00 per share, for a total transaction of $78,000.00. Following the transaction, the director now directly owns 11,433 shares in the company, valued at $445,887. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Reuven Spiegel acquired 3,885 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the acquisition, the chief financial officer now owns 20,163 shares in the company, valued at $785,953.74. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DKL. Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners during the first quarter worth about $66,000. Van ECK Associates Corp lifted its stake in Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after buying an additional 1,437 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after buying an additional 484,571 shares during the period. HB Wealth Management LLC bought a new stake in shares of Delek Logistics Partners during the second quarter worth $203,000. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Delek Logistics Partners during the fourth quarter worth $408,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DKL. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com downgraded Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th.

Delek Logistics Partners Stock Up 0.1 %

DKL stock traded up $0.06 during midday trading on Tuesday, reaching $43.78. The company’s stock had a trading volume of 72,661 shares, compared to its average volume of 87,660. The business’s 50-day simple moving average is $40.92 and its 200-day simple moving average is $40.15. The stock has a market cap of $2.07 billion, a PE ratio of 15.81 and a beta of 2.11. Delek Logistics Partners has a 52 week low of $37.02 and a 52 week high of $53.80.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. The business had revenue of $264.63 million during the quarter, compared to analysts’ expectations of $257.17 million. During the same period in the previous year, the firm earned $0.73 earnings per share. As a group, equities analysts forecast that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were paid a dividend of $1.09 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, August 9th. This represents a $4.36 annualized dividend and a yield of 9.96%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 157.40%.

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.