Delek Logistics Partners, L.P. (NYSE:DKL) Increases Dividend to $1.14 Per Share

Delek Logistics Partners, L.P. (NYSE:DKL) announced 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 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 by an average of 0.0%per year 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 103.9% meaning 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 Performance

Shares of Delek Logistics Partners stock opened at $57.38 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. Delek Logistics Partners has a 52 week low of $41.72 and a 52 week high of $57.72. The firm’s 50 day moving average is $52.16 and its two-hundred day moving average is $51.47. The firm has a market capitalization 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.

Delek Logistics Partners (NYSE:DKL) last issued 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 firm had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $239.87 million. Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%. Research analysts forecast that Delek Logistics Partners will post 3.86 EPS 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.