Delek Logistics Partners, L.P. (NYSE:DKL) Raises Dividend to $1.13 Per Share

Delek Logistics Partners, L.P. (NYSE:DKL) declared a quarterly dividend on Monday, January 26th. Stockholders of record on Thursday, February 5th will be given a dividend of 1.125 per share by the oil and gas producer on Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Thursday, February 5th. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.12.

Delek Logistics Partners has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. Delek Logistics Partners has a payout ratio of 103.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Delek Logistics Partners to earn $2.80 per share next year, which means the company may not be able to cover its $4.48 annual dividend with an expected future payout ratio of 160.0%.

Delek Logistics Partners Stock Up 1.1%

Shares of NYSE:DKL opened at $48.84 on Tuesday. The company has a debt-to-equity ratio of 130.97, a quick ratio of 0.98 and a current ratio of 1.03. Delek Logistics Partners has a 1 year low of $34.59 and a 1 year high of $49.23. The stock has a market capitalization of $2.61 billion, a P/E ratio of 15.81, a PEG ratio of 0.44 and a beta of 0.47. The stock has a 50-day simple moving average of $46.03 and a 200-day simple moving average of $44.99.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Friday, November 7th. The oil and gas producer reported $0.85 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.26). Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. The business had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $251.65 million. Equities analysts forecast that Delek Logistics Partners will post 3.01 earnings per share for the current year.

About Delek Logistics Partners

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.