Delek Logistics Partners, LP (NYSE:DKL) Short Interest Update

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 537,000 shares, an increase of 29.6% from the September 30th total of 414,200 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average daily volume of 144,900 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

A number of analysts recently commented on DKL shares. StockNews.com cut Delek Logistics Partners from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, September 24th. Bank of America started coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They issued an "underperform" rating and a $36.00 price target for the company. Finally, Citigroup upgraded Delek Logistics Partners from a "neutral" rating to a "buy" rating and upped their price target for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Insider Activity

In other Delek Logistics Partners news, Director Sherri Anne Brillon purchased 2,000 shares of the stock in a transaction dated Monday, August 19th. The shares were purchased at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the acquisition, the director now directly owns 11,433 shares in the company, valued at $445,887. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Sherri Anne Brillon acquired 2,000 shares of Delek Logistics Partners stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average price of $39.00 per share, for a total transaction of $78,000.00. Following the completion of the transaction, the director now owns 11,433 shares in the company, valued at $445,887. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Reuven Spiegel acquired 3,885 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $38.98 per share, with a total value of $151,437.30. Following the transaction, the chief financial officer now owns 20,163 shares of the company's stock, valued at $785,953.74. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,934 shares of company stock valued at $504,348 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Delek Logistics Partners

Hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new position in shares of Delek Logistics Partners in the third quarter worth about $70,000. Van ECK Associates Corp boosted its stake in Delek Logistics Partners by 76.0% during 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 during the last quarter. Foundations Investment Advisors LLC bought a new position in Delek Logistics Partners during the third quarter valued at approximately $211,000. HB Wealth Management LLC bought a new position in Delek Logistics Partners during the second quarter valued at approximately $203,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Delek Logistics Partners during the second quarter valued at approximately $456,000. Institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Stock Down 1.2 %

DKL traded down $0.48 during midday trading on Monday, reaching $38.49. The company had a trading volume of 113,385 shares, compared to its average volume of 101,887. The business has a 50-day moving average of $41.19 and a two-hundred day moving average of $40.21. The company has a market cap of $1.82 billion, a P/E ratio of 13.89 and a beta of 2.11. Delek Logistics Partners has a 1 year low of $37.02 and a 1 year high of $53.80.

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

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were paid a $1.09 dividend. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 11.33%. Delek Logistics Partners's dividend payout ratio is 157.40%.

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.