Delek Logistics Partners, L.P. (NYSE:DKL) Declares Quarterly Dividend of $1.14

Delek Logistics Partners, L.P. (NYSE:DKL) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Monday, August 3rd will be paid a dividend of 1.135 per share by the oil and gas producer on Monday, August 10th. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Monday, August 3rd. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.13.

Delek Logistics Partners has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Delek Logistics Partners has a dividend payout ratio of 103.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Delek Logistics Partners to earn $4.80 per share next year, which means the company should continue to be able to cover its $4.52 annual dividend with an expected future payout ratio of 94.2%.

Delek Logistics Partners Stock Up 3.9%

NYSE:DKL opened at $57.38 on Thursday. Delek Logistics Partners has a fifty-two week low of $41.72 and a fifty-two week high of $57.72. The firm has a market cap of $3.05 billion, a P/E ratio of 18.16, a P/E/G ratio of 0.64 and a beta of 0.47. The firm has a 50-day simple moving average of $52.16 and a two-hundred day simple moving average of $51.47. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.92 and a current ratio of 0.96.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.20). The business had revenue of $297.47 million during the quarter, compared to the consensus estimate of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. Analysts predict that Delek Logistics Partners will post 3.86 earnings per share for the current fiscal year.

Delek Logistics Partners Company Profile

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.