Delek Logistics Partners, LP (NYSE:DKL) Short Interest Down 16.3% in March

Delek Logistics Partners, LP (NYSE:DKL) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 912,500 shares, a decline of 16.3% from the February 28th total of 1,090,000 shares. Based on an average trading volume of 192,600 shares, the days-to-cover ratio is presently 4.7 days. Currently, 5.0% of the shares of the company are sold short.

Delek Logistics Partners Trading Down 2.6 %

Shares of NYSE:DKL traded down $1.14 on Thursday, reaching $42.48. 130,231 shares of the company traded hands, compared to its average volume of 145,306. Delek Logistics Partners has a 52 week low of $37.02 and a 52 week high of $45.71. The business’s 50-day simple moving average is $42.30 and its 200 day simple moving average is $41.39. The stock has a market capitalization of $2.28 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62.

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

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were given a $1.105 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, February 4th. This represents a $4.42 dividend on an annualized basis and a dividend yield of 10.40%. Delek Logistics Partners’s payout ratio is presently 147.83%.

Wall Street Analyst Weigh In

Separately, Raymond James lifted 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus target price of $44.25.

Institutional Trading of Delek Logistics Partners

Institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in Delek Logistics Partners during the 4th quarter valued at approximately $64,000. Millburn Ridgefield Corp bought a new position in shares of Delek Logistics Partners during the third quarter valued at approximately $131,000. Stifel Financial Corp purchased a new stake in Delek Logistics Partners in the third quarter worth $206,000. Van ECK Associates Corp boosted its holdings in 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 valued at $205,000 after acquiring an additional 2,074 shares in the last quarter. Finally, GeoWealth Management LLC purchased a new position in Delek Logistics Partners during the 4th quarter valued at $206,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

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.