Delek Logistics Partners, L.P. (DKL) to Distribute Quarterly Dividend of $1.14 on November 10th

Delek Logistics Partners, L.P. (NYSE:DKL) announced a quarterly dividend on Friday, October 23rd. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $1.14 per share by the oil and gas producer on Tuesday, November 10th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.1350.

Delek Logistics Partners has a dividend payout ratio of 104.8% indicating that 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 $6.49 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 70.3%.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $56.14 on Friday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 19.56 and a beta of 0.47. Delek Logistics Partners has a one year low of $42.82 and a one year high of $61.50. The business’s 50-day simple moving average is $55.77 and its 200 day simple moving average is $53.29.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.39). The business had revenue of $384.76 million for the quarter, compared to analysts’ expectations of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. On average, equities research analysts predict that Delek Logistics Partners will post 3.94 EPS for the current year.

About Delek Logistics Partners

Delek Logistics Partners, L.P. (NYSE: DKL) is a master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics’ operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.