Delek Logistics Partners, L.P. (NYSE:DKL) Declares Dividend Increase - $1.12 Per Share

Key Points

• Delek Logistics Partners announced a quarterly dividend of $1.12, representing an annualized dividend of $4.46 and a yield of 9.91%, marking a 0.5% increase from the previous dividend.
• The company's current dividend payout ratio is 102.1%, suggesting it may struggle to cover its dividend with future earnings, projected to lead to a payout ratio of 158.6% next year.
• Analysts' ratings for DKL vary, with a consensus of "Hold", while recent reports have included both upgrades and downgrades in its evaluation.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) announced a quarterly dividend on Tuesday, July 29th, RTT News reports. Investors of record on Friday, August 8th will be given a dividend of 1.115 per share by the oil and gas producer on Thursday, August 14th. This represents a c) dividend on an annualized basis and a yield of 10.1%. The ex-dividend date is Friday, August 8th. This is a 0.5% increase from Delek Logistics Partners's previous quarterly dividend of $1.11.

Delek Logistics Partners has a payout ratio of 102.1% 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 $2.80 per share next year, which means the company may not be able to cover its $4.44 annual dividend with an expected future payout ratio of 158.6%.

Delek Logistics Partners Stock Down 4.1%

NYSE DKL traded down $1.91 on Friday, reaching $44.20. The company had a trading volume of 201,551 shares, compared to its average volume of 61,196. The stock has a market capitalization of $2.36 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.04 and a beta of 0.69. The company's fifty day moving average is $43.45 and its 200 day moving average is $41.87. Delek Logistics Partners has a 52-week low of $34.59 and a 52-week high of $48.00. The company has a quick ratio of 1.52, a current ratio of 1.61 and a debt-to-equity ratio of 22.02.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its earnings results on Wednesday, 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 1,782.51% and a net margin of 15.88%. The firm had revenue of $249.93 million during the quarter, compared to analyst estimates of $237.17 million. Sell-side analysts anticipate that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. LPL Financial LLC grew its position in shares of Delek Logistics Partners by 35.3% during the fourth quarter. LPL Financial LLC now owns 44,447 shares of the oil and gas producer's stock worth $1,878,000 after purchasing an additional 11,599 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Delek Logistics Partners by 4.2% during the 4th quarter. Wells Fargo & Company MN now owns 30,338 shares of the oil and gas producer's stock valued at $1,282,000 after buying an additional 1,223 shares in the last quarter. Bank of Montreal Can purchased a new position in Delek Logistics Partners during the 4th quarter valued at approximately $17,819,000. Raymond James Financial Inc. bought a new stake in shares of Delek Logistics Partners in the 4th quarter valued at approximately $6,050,000. Finally, Zuckerman Investment Group LLC bought a new stake in shares of Delek Logistics Partners in the 4th quarter valued at approximately $263,000. Institutional investors own 11.75% of the company's stock.

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.