Delek Logistics Partners, L.P. (NYSE:DKL) Stock Short Interest Jumps 105.8%

Key Points

• Short interest more than doubled to 273,991 shares as of September 15, up 105.8% from August 31; this represents 0.5% of outstanding shares and 1.8 days to cover.
• Company insiders purchased 15,000 shares worth $750,000 over the past three months, while institutional ownership stands at 11.75% following several new positions.
• Delek Logistics raised its quarterly dividend to $1.135 per share, producing an annualized yield of about 8.4%, but its latest earnings missed estimates and analysts maintain a consensus Hold rating with a $55.60 price target.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 273,991 shares, a growth of 105.8% from the August 31st total of 133,129 shares. Based on an average daily trading volume, of 149,715 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.5% of the company's stock are sold short.

Insiders Place Their Bets

In other news, EVP Reuven Spiegel acquired 1,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $50.00 per share, with a total value of $50,000.00. Following the acquisition, the executive vice president directly owned 29,549 shares of the company's stock, valued at $1,477,450. The trade was a 3.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Avigal Soreq bought 2,500 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, with a total value of $125,000.00. Following the purchase, the president owned 84,782 shares in the company, valued at approximately $4,239,100. This represents a 3.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 15,000 shares of company stock worth $750,000 in the last three months. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DKL. State of Wyoming bought a new stake in shares of Delek Logistics Partners in the 1st quarter worth approximately $67,000. Motiv8 Investments LLC purchased a new position in Delek Logistics Partners in the fourth quarter valued at approximately $192,000. Avior Wealth Management LLC bought a new position in Delek Logistics Partners during the second quarter valued at $206,000. HB Wealth Management LLC bought a new position in Delek Logistics Partners during the first quarter valued at $216,000. Finally, Gateway Wealth Partners LLC purchased a new stake in Delek Logistics Partners in the first quarter worth $222,000. 11.75% of the stock is owned by institutional investors.

Delek Logistics Partners Trading Down 0.1%

Shares of Delek Logistics Partners stock opened at $53.83 on Monday. The firm has a market cap of $3.08 billion, a PE ratio of 18.76 and a beta of 0.44. Delek Logistics Partners has a 1 year low of $42.35 and a 1 year high of $61.50. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a fifty day moving average price of $56.10 and a 200-day moving average price of $53.19.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.39). The company had revenue of $384.76 million during the quarter, compared to analysts' expectations of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. Equities research analysts anticipate that Delek Logistics Partners will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $1.1350 dividend. The ex-dividend date was Monday, August 3rd. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a yield of 8.4%. Delek Logistics Partners's dividend payout ratio is presently 158.19%.

Wall Street Analysts Forecast Growth

DKL has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 18th. UBS Group upped their price objective on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the stock a "neutral" rating in a research report on Monday, September 21st. Finally, Zacks Research lowered shares of Delek Logistics Partners from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $55.60.

About Delek Logistics Partners

Delek Logistics Partners, LP NYSE: DKL is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.

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