Delek Logistics Partners, LP (DKL) To Go Ex-Dividend on November 8th

Delek Logistics Partners, LP (NYSE:DKL) declared a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Shareholders of record on Friday, November 8th will be paid a dividend of 1.10 per share by the oil and gas producer on Thursday, November 14th. This represents a $4.40 annualized dividend and a yield of 11.44%. The ex-dividend date is Friday, November 8th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73.

Delek Logistics Partners has increased its dividend payment by an average of 4.8% annually over the last three years. Delek Logistics Partners has a dividend payout ratio of 108.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Delek Logistics Partners to earn $4.25 per share next year, which means the company may not be able to cover its $4.36 annual dividend with an expected future payout ratio of 102.6%.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $38.46 on Thursday. The stock’s fifty day moving average is $41.16 and its 200-day moving average is $40.20. Delek Logistics Partners has a 52 week low of $37.02 and a 52 week high of $53.80. The stock has a market capitalization of $1.82 billion, a PE ratio of 13.88 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. The business had revenue of $264.63 million for the quarter, compared to analysts’ expectations of $257.17 million. During the same quarter last year, the business earned $0.73 earnings per share. As a group, analysts forecast that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DKL shares. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com cut shares of Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Finally, Bank of America started coverage on Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, CFO Reuven Spiegel bought 1,282 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was acquired at an average price of $39.00 per share, with a total value of $49,998.00. Following the completion of the transaction, the chief financial officer now owns 20,223 shares in the company, valued at approximately $788,697. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Delek Logistics Partners news, CFO Reuven Spiegel acquired 1,282 shares of Delek Logistics Partners stock in a transaction dated Thursday, October 10th. The stock was bought at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the purchase, the chief financial officer now directly owns 20,223 shares in the company, valued at approximately $788,697. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph Israel acquired 3,076 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was bought at an average price of $39.00 per share, with a total value of $119,964.00. Following the acquisition, the executive vice president now directly owns 13,782 shares in the company, valued at $537,498. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,934 shares of company stock valued at $504,348 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

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.