Delek Logistics Partners, L.P. (NYSE:DKL) Declares Quarterly Dividend of $1.12

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 paid a dividend of 1.115 per share by the oil and gas producer on Thursday, August 14th. This represents a $4.46 dividend on an annualized basis and a yield of 9.91%. This is a 0.5% increase from Delek Logistics Partners's previous quarterly dividend of $1.11.

Delek Logistics Partners has a dividend 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 Performance

Shares of NYSE:DKL traded up $0.79 during trading on Tuesday, hitting $45.01. The stock had a trading volume of 88,877 shares, compared to its average volume of 160,928. 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 has a 12-month low of $34.59 and a 12-month high of $45.71. The stock has a 50-day simple moving average of $43.13 and a two-hundred day simple moving average of $41.79. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.00 and a beta of 0.76.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.73 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 company had revenue of $249.93 million for the quarter, compared to analyst estimates of $237.17 million. On average, equities research analysts expect that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DKL has been the topic of several recent analyst reports. Wall Street Zen lowered Delek Logistics Partners from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Mizuho upgraded Delek Logistics Partners to a "hold" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Delek Logistics Partners has an average rating of "Hold" and an average target price of $44.25.

Hedge Funds Weigh In On Delek Logistics Partners

An institutional investor recently raised its position in Delek Logistics Partners stock. Jones Financial Companies Lllp grew its position in Delek Logistics Partners, L.P. (NYSE:DKL - Free Report) by 303.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,210 shares of the oil and gas producer's stock after purchasing an additional 910 shares during the period. Jones Financial Companies Lllp's holdings in Delek Logistics Partners were worth $52,000 as of its most recent SEC filing. 11.75% of the stock is owned by institutional investors and hedge funds.

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.

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