Short Interest in Delek Logistics Partners, LP (NYSE:DKL) Drops By 6.6%

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 414,200 shares, a decline of 6.6% from the September 15th total of 443,400 shares. Based on an average daily volume of 113,800 shares, the days-to-cover ratio is currently 3.6 days. Currently, 3.4% of the company's stock are short sold.

Delek Logistics Partners Stock Up 0.2 %

Shares of NYSE:DKL traded up $0.06 during trading on Wednesday, reaching $39.20. 96,131 shares of the company traded hands, compared to its average volume of 99,015. The firm has a market capitalization of $1.85 billion, a PE ratio of 14.15 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. The company's 50 day moving average is $41.18 and its two-hundred day moving average is $40.25.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. The firm had revenue of $264.63 million for the quarter, compared to the consensus estimate of $257.17 million. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. During the same period in the prior year, the company posted $0.73 earnings per share. As a group, research analysts anticipate that Delek Logistics Partners will post 3.41 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company 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. This is an increase from Delek Logistics Partners's previous quarterly dividend of $0.73. This represents a $4.36 annualized dividend and a yield of 11.12%. The ex-dividend date was Friday, August 9th. Delek Logistics Partners's payout ratio is currently 157.40%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DKL. StockNews.com downgraded shares of Delek Logistics Partners from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, September 24th. Citigroup upgraded shares of Delek Logistics Partners from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th.

Insiders Place Their Bets

In other news, President Avigal Soreq purchased 2,563 shares of the business's stock in a transaction on Thursday, October 10th. The stock was purchased at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the purchase, the president now directly owns 46,758 shares in the company, valued at $1,823,562. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Delek Logistics Partners news, President Avigal Soreq acquired 2,563 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was bought at an average cost of $39.00 per share, with a total value of $99,957.00. Following the completion of the transaction, the president now directly owns 46,758 shares in the company, valued at approximately $1,823,562. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Reuven Spiegel bought 1,282 shares of the firm's stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,223 shares in the company, valued at $788,697. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 12,934 shares of company stock valued at $504,348 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $60,775,000 after purchasing an additional 997,860 shares in the last quarter. GSA Capital Partners LLP boosted its position in Delek Logistics Partners by 263.8% in the first quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer's stock valued at $1,539,000 after buying an additional 27,217 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Delek Logistics Partners during the first quarter worth $12,656,000. Strategic Financial Concepts LLC lifted its stake in shares of Delek Logistics Partners by 4,182.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer's stock valued at $201,000 after acquiring an additional 484,571 shares during the last quarter. Finally, IFG Advisory LLC acquired a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at $640,000. 11.75% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.