Delek Logistics Partners, LP (NYSE:DKL) to Issue Quarterly Dividend of $1.11

Delek Logistics Partners, LP (NYSE:DKL) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Tuesday, February 4th will be given a dividend of 1.105 per share by the oil and gas producer on Tuesday, February 11th. This represents a $4.42 annualized dividend and a dividend yield of 10.17%. The ex-dividend date is Tuesday, February 4th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.10.

Delek Logistics Partners has raised its dividend payment by an average of 7.0% per year over the last three years. Delek Logistics Partners has a payout ratio of 150.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 $4.40 annual dividend with an expected future payout ratio of 157.1%.

Delek Logistics Partners Stock Down 1.7 %

Shares of Delek Logistics Partners stock traded down $0.75 during trading hours on Monday, hitting $43.44. 134,656 shares of the company’s stock traded hands, compared to its average volume of 107,322. The company has a market cap of $2.24 billion, a PE ratio of 15.40, a PEG ratio of 1.40 and a beta of 2.10. The stock has a 50 day simple moving average of $41.22 and a 200-day simple moving average of $40.77. Delek Logistics Partners has a twelve month low of $37.02 and a twelve month high of $47.67.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The company had revenue of $214.07 million for the quarter, compared to analyst estimates of $270.98 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, equities research analysts predict that Delek Logistics Partners will post 3.05 EPS for the current year.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the acquisition, the chairman now directly owns 162,217 shares in the company, valued at $6,480,569.15. This represents a 2.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have acquired 4,835 shares of company stock valued at $192,184. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America assumed coverage on shares of Delek Logistics Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $36.00 price objective on the stock. Truist Financial lifted their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Delek Logistics Partners currently has a consensus rating of “Hold” and a consensus price target of $44.00.

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.