Delek Logistics Partners, LP (NYSE:DKL) Sees Large Decrease in Short Interest

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 912,500 shares, a decrease of 16.3% from the February 28th total of 1,090,000 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily volume of 192,600 shares, the short-interest ratio is currently 4.7 days.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds and other institutional investors have recently modified their holdings of DKL. Venturi Wealth Management LLC purchased a new position in Delek Logistics Partners in the 4th quarter worth approximately $64,000. Millburn Ridgefield Corp bought a new position in shares of Delek Logistics Partners in the third quarter worth approximately $131,000. Van ECK Associates Corp grew its holdings in shares of Delek Logistics Partners by 74.6% in the fourth quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer's stock worth $205,000 after purchasing an additional 2,074 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Delek Logistics Partners in the third quarter worth $206,000. Finally, GeoWealth Management LLC bought a new stake in Delek Logistics Partners during the 4th quarter valued at $206,000. Institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Stock Performance

NYSE DKL traded down $2.80 on Friday, hitting $39.73. The stock had a trading volume of 264,246 shares, compared to its average volume of 146,613. The firm has a 50-day moving average of $42.17 and a 200-day moving average of $41.36. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $45.71. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62.

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Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.06). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The company had revenue of $209.86 million during the quarter, compared to analysts' expectations of $240.05 million. As a group, research analysts anticipate that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were given a $1.105 dividend. This represents a $4.42 dividend on an annualized basis and a yield of 11.13%. The ex-dividend date of this dividend was Tuesday, February 4th. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.10. Delek Logistics Partners's dividend payout ratio (DPR) is presently 147.83%.

Analyst Upgrades and Downgrades

Separately, Raymond James upped their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $44.25.

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.