Delek Logistics Partners, L.P. (NYSE:DKL) Declares Quarterly Dividend of $1.13

Delek Logistics Partners, L.P. (NYSE:DKL) announced a quarterly dividend on Monday, January 26th. Stockholders of record on Thursday, February 5th will be given a dividend of 1.125 per share by the oil and gas producer on Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Thursday, February 5th. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.12.

Delek Logistics Partners has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Delek Logistics Partners has a payout ratio of 103.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Delek Logistics Partners stock traded up $0.54 during mid-day trading on Tuesday, hitting $49.43. The stock had a trading volume of 6,009 shares, compared to its average volume of 61,881. The firm’s 50 day moving average is $46.03 and its 200 day moving average is $44.99. Delek Logistics Partners has a one year low of $34.59 and a one year high of $49.92. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 130.97. The firm has a market capitalization of $2.64 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.44 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.26). Delek Logistics Partners had a return on equity of 360.64% and a net margin of 17.00%.The business had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $251.65 million. On average, sell-side analysts forecast that Delek Logistics Partners will post 3.01 earnings per share 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.