Delek Logistics Partners, LP (NYSE:DKL) Sees Significant Drop in Short Interest

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 700,800 shares, a decline of 17.0% from the April 30th total of 843,900 shares. Based on an average trading volume of 204,700 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.8% of the shares of the stock are sold short.

Institutional Trading of Delek Logistics Partners

A number of institutional investors and hedge funds have recently made changes to their positions in DKL. Alps Advisors Inc. lifted its holdings in shares of Delek Logistics Partners by 31.3% during the 1st quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer's stock worth $186,722,000 after acquiring an additional 1,028,497 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Delek Logistics Partners by 3,838.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer's stock worth $20,134,000 after acquiring an additional 464,343 shares during the period. Bank of Montreal Can bought a new stake in shares of Delek Logistics Partners during the 4th quarter worth approximately $17,819,000. ING Groep NV lifted its stake in Delek Logistics Partners by 2,491.7% in the 4th quarter. ING Groep NV now owns 311,000 shares of the oil and gas producer's stock valued at $13,143,000 after purchasing an additional 299,000 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Delek Logistics Partners by 42.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 969,982 shares of the oil and gas producer's stock valued at $40,991,000 after purchasing an additional 288,033 shares during the last quarter. Institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Price Performance

DKL traded up $0.18 during mid-day trading on Thursday, hitting $42.35. The stock had a trading volume of 48,059 shares, compared to its average volume of 187,852. Delek Logistics Partners has a 1-year low of $34.59 and a 1-year high of $45.71. The stock's fifty day simple moving average is $39.64 and its 200-day simple moving average is $40.96. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.28 and a beta of 0.81.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The firm had revenue of $249.93 million for the quarter, compared to analyst estimates of $237.17 million. As a group, research analysts expect that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a $1.11 dividend. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.11. The ex-dividend date was Thursday, May 8th. This represents a $4.44 annualized dividend and a yield of 10.48%. Delek Logistics Partners's payout ratio is 148.49%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Delek Logistics Partners from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $44.25.

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.