Delek Logistics Partners, L.P. (NYSE:DKL) Short Interest Down 62.9% in August

Delek Logistics Partners, L.P. (NYSE:DKL) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 133,129 shares, a decrease of 62.9% from the August 15th total of 358,771 shares. Based on an average daily volume of 135,287 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DKL shares. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. UBS Group assumed coverage on Delek Logistics Partners in a report on Thursday, July 16th. They set a “neutral” rating and a $56.00 target price on the stock. Finally, Weiss Ratings raised shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Delek Logistics Partners presently has an average rating of “Moderate Buy” and a consensus price target of $55.40.

Insider Buying and Selling at Delek Logistics Partners

In other news, EVP Reuven Spiegel purchased 1,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the executive vice president owned 29,549 shares in the company, valued at approximately $1,477,450. This represents a 3.50% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Ezra Yemin bought 6,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $300,000.00. Following the transaction, the chairman directly owned 168,217 shares in the company, valued at approximately $8,410,850. This trade represents a 3.70% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 15,000 shares of company stock worth $750,000. Insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

Several hedge funds have recently made changes to their positions in DKL. State of Wyoming acquired a new stake in shares of Delek Logistics Partners in the first quarter valued at $67,000. Motiv8 Investments LLC acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at $192,000. Avior Wealth Management LLC acquired a new position in Delek Logistics Partners in the second quarter valued at $206,000. HB Wealth Management LLC purchased a new position in Delek Logistics Partners during the 1st quarter worth approximately $216,000. Finally, Gateway Wealth Partners LLC purchased a new position in Delek Logistics Partners during the 1st quarter worth $222,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Price Performance

Shares of DKL stock traded down $0.37 during trading hours on Monday, reaching $56.53. The company had a trading volume of 287,650 shares, compared to its average volume of 128,630. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a fifty day moving average of $55.97 and a 200-day moving average of $53.01. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.70 and a beta of 0.44. Delek Logistics Partners has a 12-month low of $42.35 and a 12-month high of $61.50.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.39). The company had revenue of $384.76 million for the quarter, compared to analysts’ expectations of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. On average, equities analysts anticipate that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $1.135 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio (DPR) is 158.19%.

About Delek Logistics Partners

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.