Delek Logistics Partners, LP (DKL) to Issue Quarterly Dividend of $1.11 on February 11th

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 paid 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 10.31%. 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 increased its dividend payment by an average of 7.0% annually over the last three years. Delek Logistics Partners has a dividend payout ratio of 150.7% 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 $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 Trading Down 1.4 %

DKL stock opened at $42.89 on Wednesday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.40 and a beta of 2.10. The company’s 50 day moving average is $41.38 and its 200 day moving average is $40.80. Delek Logistics Partners has a 1-year low of $37.02 and a 1-year high of $47.67.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data 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 analysts’ expectations of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same period last year, the company posted $0.80 EPS. As a group, sell-side analysts forecast that Delek Logistics Partners will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DKL shares. Raymond James increased their price objective on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Truist Financial upped their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Bank of America began coverage on Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.25.

Insider Transactions at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin bought 3,750 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $39.95 per share, with a total value of $149,812.50. Following the completion of the acquisition, the chairman now directly owns 162,217 shares in the company, valued at approximately $6,480,569.15. The trade was 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 this link. Insiders bought a total of 4,835 shares of company stock worth $192,184 over the last three months. 1.00% of the stock is currently owned by insiders.

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.