Delek Logistics Partners, LP (DKL) to Issue Dividend of $1.09 on August 16th

Delek Logistics Partners, LP (NYSE:DKL) declared a dividend on Tuesday, July 30th, NASDAQ reports. Shareholders of record on Friday, August 9th will be paid a dividend of 1.09 per share by the oil and gas producer on Friday, August 16th. The ex-dividend date is Friday, August 9th. This is a boost from Delek Logistics Partners’s previous dividend of $0.73.

Delek Logistics Partners has raised its dividend payment by an average of 4.8% per year over the last three years. Delek Logistics Partners has a payout ratio of 110.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Delek Logistics Partners to earn $3.79 per share next year, which means the company may not be able to cover its $4.28 annual dividend with an expected future payout ratio of 112.9%.

Delek Logistics Partners Stock Performance

NYSE DKL opened at $41.21 on Thursday. Delek Logistics Partners has a fifty-two week low of $36.50 and a fifty-two week high of $53.80. The stock has a market cap of $1.95 billion, a PE ratio of 14.88 and a beta of 2.12. The firm’s fifty day moving average price is $40.14 and its two-hundred day moving average price is $41.20.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. Delek Logistics Partners had a negative return on equity of 115.32% and a net margin of 11.81%. The company had revenue of $252.08 million during the quarter, compared to the consensus estimate of $263.96 million. As a group, sell-side analysts predict that Delek Logistics Partners will post 3.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial started coverage on Delek Logistics Partners in a research note on Friday, April 19th. They issued a “buy” rating and a $46.00 price target for the company. StockNews.com upgraded shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.33.

About Delek Logistics Partners

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.