Delek Logistics Partners, L.P. (NYSE:DKL) Announces Quarterly Dividend of $1.14

Delek Logistics Partners, L.P. (NYSE:DKL) announced a quarterly dividend on Friday, October 23rd. Shareholders of record on Tuesday, November 3rd will be given a dividend of $1.14 per share by the oil and gas producer on Tuesday, November 10th. This represents a $4.56 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Tuesday, November 3rd. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.1350.

Delek Logistics Partners has a dividend payout ratio of 104.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Delek Logistics Partners to earn $6.49 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 70.3%.

Delek Logistics Partners Stock Down 1.1%

Shares of NYSE:DKL opened at $56.14 on Friday. Delek Logistics Partners has a 12-month low of $42.82 and a 12-month high of $61.50. The company’s 50 day moving average price is $55.77 and its two-hundred day moving average price is $53.29. The firm has a market cap of $3.21 billion, a PE ratio of 19.56 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The business had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. On average, research analysts expect that Delek Logistics Partners will post 3.94 EPS for the current year.

Delek Logistics Partners Company Profile

Delek Logistics Partners, L.P. (NYSE: DKL) is a master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics’ operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.