Delek Logistics Partners, LP (NYSE:DKL) Increases Dividend to $1.11 Per Share

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) declared a quarterly dividend on Monday, April 28th, RTT News reports. Investors of record on Thursday, May 8th will be paid a dividend of 1.11 per share by the oil and gas producer on Thursday, May 15th. This represents a $4.44 annualized dividend and a dividend yield of 11.15%. The ex-dividend date is Thursday, May 8th. This is a 0.5% increase from Delek Logistics Partners's previous quarterly dividend of $1.11.

Delek Logistics Partners has raised its dividend payment by an average of 7.0% per year over the last three years. Delek Logistics Partners has a dividend payout ratio of 98.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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 Price Performance

Delek Logistics Partners stock traded up $0.83 during trading hours on Friday, reaching $39.81. The stock had a trading volume of 95,933 shares, compared to its average volume of 157,774. The stock has a market cap of $2.14 billion, a PE ratio of 14.12, a PEG ratio of 1.28 and a beta of 1.62. The company has a fifty day simple moving average of $40.32 and a 200-day simple moving average of $40.64. Delek Logistics Partners has a 52 week low of $34.59 and a 52 week high of $45.71.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its earnings results on Tuesday, February 25th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.06). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The business had revenue of $209.86 million during the quarter, compared to the consensus estimate of $240.05 million. Research analysts predict that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Delek Logistics Partners currently has an average rating of "Hold" and a consensus price target of $44.25.

Delek Logistics Partners Company Profile

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.