Delek Logistics Partners, L.P. (NYSE:DKL) Raises Dividend to $1.13 Per Share

Delek Logistics Partners, L.P. (NYSE:DKL) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Monday, May 4th will be paid a dividend of 1.13 per share by the oil and gas producer on Monday, May 11th. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend is Monday, May 4th. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.13.

Delek Logistics Partners has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Delek Logistics Partners has a dividend payout ratio of 103.4% 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 $4.75 per share next year, which means the company should continue to be able to cover its $4.50 annual dividend with an expected future payout ratio of 94.7%.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL opened at $51.13 on Friday. The company’s fifty day moving average price is $52.02 and its 200 day moving average price is $48.33. Delek Logistics Partners has a 12 month low of $37.16 and a 12 month high of $55.89. The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07. The firm has a market capitalization of $2.73 billion, a P/E ratio of 15.54, a P/E/G ratio of 0.54 and a beta of 0.54.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.38). Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%.The company had revenue of $255.77 million for the quarter, compared to analyst estimates of $283.64 million. As a group, sell-side analysts predict that Delek Logistics Partners will post 4.11 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.