Delek Logistics Partners, LP (DKL) to Issue Quarterly Dividend of $1.03 on May 15th

Delek Logistics Partners, LP (NYSE:DKL) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 1.025 per share by the oil and gas producer on Wednesday, May 15th. This represents a $4.10 annualized dividend and a yield of 10.33%. The ex-dividend date is Tuesday, May 7th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.25.

Delek Logistics Partners has raised its dividend by an average of 4.8% annually over the last three years. Delek Logistics Partners has a payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Delek Logistics Partners to earn $4.04 per share next year, which means the company may not be able to cover its $4.10 annual dividend with an expected future payout ratio of 101.5%.

Delek Logistics Partners Price Performance

DKL opened at $39.70 on Friday. The firm has a market cap of $1.73 billion, a PE ratio of 13.69 and a beta of 2.07. The stock has a 50-day moving average price of $40.46 and a 200-day moving average price of $44.09. Delek Logistics Partners has a 1 year low of $36.50 and a 1 year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $254.15 million during the quarter, compared to analysts’ expectations of $272.51 million. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. As a group, sell-side analysts anticipate that Delek Logistics Partners will post 3.48 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on DKL. Truist Financial began coverage on Delek Logistics Partners in a research report on Friday, April 19th. They issued a “buy” rating and a $46.00 price objective on the stock. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Friday. Finally, Raymond James upgraded Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Delek Logistics Partners Company Profile

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.