Delek Logistics Partners, L.P. (DKL) To Go Ex-Dividend on August 3rd

Delek Logistics Partners, L.P. (NYSE:DKL) announced a quarterly dividend on Wednesday, July 22nd. Investors of record on Monday, August 3rd will be paid a dividend of 1.135 per share by the oil and gas producer on Monday, August 10th. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Monday, August 3rd. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.13.

Delek Logistics Partners has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Delek Logistics Partners has a dividend payout ratio of 104.4% 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 $4.86 per share next year, which means the company should continue to be able to cover its $4.54 annual dividend with an expected future payout ratio of 93.4%.

Delek Logistics Partners Trading Up 2.4%

Shares of DKL opened at $60.60 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The stock’s fifty day simple moving average is $53.07 and its 200 day simple moving average is $52.00. The firm has a market capitalization of $3.22 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 0.65 and a beta of 0.47. Delek Logistics Partners has a twelve month low of $41.72 and a twelve month high of $61.50.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.20). The company had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. On average, equities research analysts forecast that Delek Logistics Partners will post 4.12 earnings per share for the current year.

About Delek Logistics Partners

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.