Delek Logistics Partners, LP (NYSE:DKL – Get Rating) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 283,100 shares, a growth of 14.7% from the December 31st total of 246,800 shares. Currently, 3.2% of the company's stock are sold short. Based on an average daily trading volume, of 66,700 shares, the days-to-cover ratio is presently 4.2 days.
Insider Activity
In other news, Chairman Ezra Uzi Yemin sold 23,136 shares of Delek Logistics Partners stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $56.14, for a total transaction of $1,298,855.04. Following the transaction, the chairman now owns 242,682 shares in the company, valued at $13,624,167.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 37,859 shares of company stock worth $2,125,813. 1.00% of the stock is owned by corporate insiders.
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Hedge Funds Weigh In On Delek Logistics Partners
A number of hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Delek Logistics Partners by 28.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,149,963 shares of the oil and gas producer's stock worth $56,003,000 after buying an additional 256,048 shares in the last quarter. JPMorgan Chase & Co. grew its position in Delek Logistics Partners by 8.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 212,000 shares of the oil and gas producer's stock worth $10,324,000 after acquiring an additional 16,200 shares during the last quarter. First Trust Advisors LP grew its position in Delek Logistics Partners by 27.6% during the 1st quarter. First Trust Advisors LP now owns 89,835 shares of the oil and gas producer's stock worth $3,952,000 after acquiring an additional 19,430 shares during the last quarter. UBS Group AG grew its position in Delek Logistics Partners by 404.3% during the 3rd quarter. UBS Group AG now owns 63,999 shares of the oil and gas producer's stock worth $3,259,000 after acquiring an additional 51,308 shares during the last quarter. Finally, Blackstone Inc. grew its position in Delek Logistics Partners by 25.9% during the 3rd quarter. Blackstone Inc. now owns 52,675 shares of the oil and gas producer's stock worth $2,683,000 after acquiring an additional 10,845 shares during the last quarter. 12.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on DKL. Citigroup began coverage on Delek Logistics Partners in a research note on Thursday, December 8th. They issued a "neutral" rating and a $48.00 target price on the stock. StockNews.com started coverage on Delek Logistics Partners in a research note on Wednesday, October 12th. They issued a "hold" rating on the stock.
Delek Logistics Partners Stock Performance
NYSE DKL opened at $49.73 on Friday. Delek Logistics Partners has a twelve month low of $39.00 and a twelve month high of $64.46. The stock has a market capitalization of $2.16 billion, a PE ratio of 13.66 and a beta of 2.15. The stock has a 50-day simple moving average of $47.91 and a 200 day simple moving average of $52.35.
Delek Logistics Partners (NYSE:DKL – Get Rating) last posted its quarterly earnings results on Monday, November 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.88 by $0.15. The firm had revenue of $294.03 million during the quarter, compared to analysts' expectations of $313.48 million. Delek Logistics Partners had a negative return on equity of 143.27% and a net margin of 16.51%. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.81 EPS for the current fiscal year.
Delek Logistics Partners Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 9th. Shareholders of record on Thursday, February 2nd will be issued a $1.02 dividend. This is a boost from Delek Logistics Partners's previous quarterly dividend of $0.99. The ex-dividend date is Wednesday, February 1st. This represents a $4.08 annualized dividend and a yield of 8.20%. Delek Logistics Partners's dividend payout ratio is 108.79%.
Delek Logistics Partners Company Profile
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Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates through three segments: Pipelines and Transportation, Wholesale Marketing and Terminalling, and Investment in Pipeline Joint Ventures. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and refined products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties.
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