Delek Logistics Partners, L.P. (DKL) To Go Ex-Dividend on November 7th

Delek Logistics Partners, L.P. (NYSE:DKL) announced a quarterly dividend on Tuesday, October 28th. Shareholders of record on Friday, November 7th will be paid a dividend of 1.12 per share by the oil and gas producer on Thursday, November 13th. This represents a c) annualized dividend and a yield of 10.0%. The ex-dividend date of this dividend is Friday, November 7th. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.12.

Delek Logistics Partners has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Delek Logistics Partners has a dividend 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 Performance

Delek Logistics Partners stock opened at $44.68 on Wednesday. Delek Logistics Partners has a fifty-two week low of $34.59 and a fifty-two week high of $48.00. The stock’s 50 day simple moving average is $44.56 and its two-hundred day simple moving average is $43.15. The company has a debt-to-equity ratio of 69.13, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.99 and a beta of 0.56.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $246.35 million during the quarter, compared to analysts’ expectations of $289.07 million. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. As a group, analysts expect that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho upped their target price on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

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.