Delek Logistics Partners, LP (NYSE:DKL) Short Interest Update

Delek Logistics Partners, LP (NYSE:DKL) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 91,400 shares, a decline of 7.5% from the October 15th total of 98,800 shares. Based on an average daily trading volume, of 54,900 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.0% of the shares of the company are short sold.

Delek Logistics Partners Stock Up 1.2 %

Delek Logistics Partners stock traded up $0.60 during mid-day trading on Friday, hitting $49.35. 50,722 shares of the company’s stock traded hands, compared to its average volume of 55,156. The firm has a 50 day moving average price of $44.08 and a 200 day moving average price of $46.59. The company has a market cap of $2.15 billion, a PE ratio of 14.64 and a beta of 2.06. Delek Logistics Partners has a one year low of $36.50 and a one year high of $58.81.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Monday, November 6th were paid a dividend of $1.045 per share. The ex-dividend date was Friday, November 3rd. This represents a $4.18 annualized dividend and a yield of 8.47%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.04. Delek Logistics Partners’s payout ratio is presently 124.04%.

Institutional Trading of Delek Logistics Partners

Several hedge funds have recently added to or reduced their stakes in DKL. Citigroup Inc. bought a new stake in shares of Delek Logistics Partners in the 1st quarter worth $35,000. VitalStone Financial LLC raised its stake in shares of Delek Logistics Partners by 6,040.0% in the 2nd quarter. VitalStone Financial LLC now owns 921 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 906 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $103,000. Barclays PLC raised its stake in shares of Delek Logistics Partners by 668.7% in the 4th quarter. Barclays PLC now owns 2,629 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 2,287 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $121,000. Institutional investors own 12.56% of the company’s stock.

Analysts Set New Price Targets

DKL has been the subject of several analyst reports. Citigroup upgraded Delek Logistics Partners from a “sell” rating to a “neutral” rating and cut their price target for the stock from $47.00 to $45.00 in a research note on Friday, September 8th. StockNews.com started coverage on Delek Logistics Partners in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, TheStreet lowered Delek Logistics Partners from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th.

About Delek Logistics Partners

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 four segments: Gathering and Processing, Wholesale Marketing and Terminalling, Storage and Transportation, and Investment in Pipeline Joint Ventures.