Delek Logistics Partners, LP (NYSE:DKL) Short Interest Up 19.7% in January

Delek Logistics Partners, LP (NYSE:DKL) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,090,000 shares, an increase of 19.7% from the December 31st total of 910,700 shares. Currently, 6.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 212,900 shares, the days-to-cover ratio is currently 5.1 days.

Analyst Ratings Changes

A number of brokerages recently commented on DKL. StockNews.com cut shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James lifted their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Truist Financial increased their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Bank of America began coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target on the stock. One 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 company’s stock. Based on data from MarketBeat, Delek Logistics Partners has a consensus rating of “Hold” and an average price target of $44.25.

Insider Buying and Selling

In related news, Chairman Ezra Uzi Yemin bought 3,750 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the transaction, the chairman now owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. The trade was a 2.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 4,835 shares of company stock worth $192,184 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delek Logistics Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new stake in Delek Logistics Partners during the third quarter valued at $49,000. Venturi Wealth Management LLC purchased a new stake in shares of Delek Logistics Partners during the 4th quarter valued at about $64,000. Future Financial Wealth Managment LLC bought a new position in shares of Delek Logistics Partners in the 3rd quarter worth approximately $70,000. Sittner & Nelson LLC bought a new stake in Delek Logistics Partners during the third quarter valued at approximately $109,000. Finally, Millburn Ridgefield Corp purchased a new stake in Delek Logistics Partners during the third quarter valued at approximately $131,000. 11.75% of the stock is owned by institutional investors.

Delek Logistics Partners Stock Down 2.1 %

Shares of DKL stock traded down $0.95 during trading hours on Friday, hitting $43.38. 237,903 shares of the company’s stock traded hands, compared to its average volume of 103,239. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.37 and a beta of 2.10. The stock’s fifty day simple moving average is $41.59 and its two-hundred day simple moving average is $40.85. Delek Logistics Partners has a 12-month low of $37.02 and a 12-month high of $47.67.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The company had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. During the same period last year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th will be given a dividend of $1.105 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $4.42 annualized dividend and a dividend yield of 10.19%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

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.