Delek Logistics Partners, LP (NYSE:DKL) Declares Quarterly Dividend of $1.03

Delek Logistics Partners, LP (NYSE:DKL) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 1.025 per share by the oil and gas producer on Wednesday, May 15th. This represents a $4.10 dividend on an annualized basis and a yield of 10.33%. The ex-dividend date is Tuesday, May 7th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.25.

Delek Logistics Partners has raised its dividend payment by an average of 4.8% annually over the last three years. Delek Logistics Partners has a dividend payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Delek Logistics Partners to earn $4.04 per share next year, which means the company may not be able to cover its $4.10 annual dividend with an expected future payout ratio of 101.5%.

Delek Logistics Partners Stock Performance

Shares of Delek Logistics Partners stock opened at $39.70 on Friday. The business has a 50-day simple moving average of $40.46 and a 200-day simple moving average of $44.09. The company has a market cap of $1.73 billion, a PE ratio of 13.69 and a beta of 2.07. Delek Logistics Partners has a one year low of $36.50 and a one year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. The company had revenue of $254.15 million during the quarter, compared to analysts’ expectations of $272.51 million. On average, sell-side analysts predict that Delek Logistics Partners will post 3.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on DKL. Truist Financial initiated coverage on Delek Logistics Partners in a report on Friday, April 19th. They issued a “buy” rating and a $46.00 target price on the stock. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Raymond James raised Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Delek Logistics Partners has an average rating of “Moderate Buy” and a consensus target price of $45.33.

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.