Delek Logistics Partners, LP (NYSE:DKL) Plans Quarterly Dividend of $1.10

Delek Logistics Partners, LP (NYSE:DKL) announced a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Investors of record on Friday, November 8th will be paid a dividend of 1.10 per share by the oil and gas producer on Thursday, November 14th. This represents a $4.40 dividend on an annualized basis and a yield of 11.22%. The ex-dividend date is Friday, November 8th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73.

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 109.2% 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 $4.13 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 106.5%.

Delek Logistics Partners Stock Down 0.7 %

DKL stock opened at $39.22 on Thursday. Delek Logistics Partners has a twelve month low of $37.02 and a twelve month high of $53.80. The firm has a market capitalization of $1.85 billion, a PE ratio of 13.48, a PEG ratio of 1.01 and a beta of 2.12. The stock has a 50-day simple moving average of $41.17 and a two-hundred day simple moving average of $40.24.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The company had revenue of $264.63 million during the quarter, compared to analysts’ expectations of $257.17 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. On average, equities research analysts anticipate that Delek Logistics Partners will post 3.41 EPS for the current fiscal year.

Insider Activity at Delek Logistics Partners

In other news, Director Sherri Anne Brillon acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was purchased at an average cost of $39.00 per share, for a total transaction of $78,000.00. Following the acquisition, the director now owns 11,433 shares of the company’s stock, valued at $445,887. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Delek Logistics Partners news, President Avigal Soreq acquired 2,563 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was bought at an average price of $39.00 per share, with a total value of $99,957.00. Following the purchase, the president now owns 46,758 shares of the company’s stock, valued at approximately $1,823,562. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sherri Anne Brillon acquired 2,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $39.00 per share, for a total transaction of $78,000.00. Following the acquisition, the director now owns 11,433 shares of the company’s stock, valued at approximately $445,887. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 12,934 shares of company stock valued at $504,348 over the last 90 days. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Bank of America initiated coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target for the company. Finally, Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Delek Logistics Partners Company Profile

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.