Delek Logistics Partners, L.P. (DKL) To Go Ex-Dividend on November 3rd

Delek Logistics Partners, L.P. (NYSE:DKL) declared a quarterly dividend on Friday, October 23rd. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $1.14 per share by the oil and gas producer on Tuesday, November 10th. This represents a $4.56 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.1350.

Delek Logistics Partners has a dividend payout ratio of 104.8% meaning 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 $6.49 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 70.3%.

Delek Logistics Partners Stock Performance

NYSE DKL opened at $56.14 on Friday. The stock has a 50 day moving average price of $55.77 and a 200-day moving average price of $53.29. The company has a market capitalization of $3.21 billion, a P/E ratio of 19.56 and a beta of 0.47. Delek Logistics Partners has a one year low of $42.82 and a one year high of $61.50.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The business had revenue of $384.76 million during the quarter, compared to the consensus estimate of $293.64 million. As a group, equities analysts predict that Delek Logistics Partners will post 3.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DKL shares. Zacks Research lowered shares of Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. UBS Group upped their price objective on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Finally, Weiss Ratings raised shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.60.

About Delek Logistics Partners

Delek Logistics Partners, L.P. (NYSE: DKL) is a master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics’ operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.