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

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) announced a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders 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 11.20%. This is a 0.5% increase from Delek Logistics Partners's previous quarterly dividend of $1.11.

Delek Logistics Partners has increased its dividend by an average of 7.0% per year over the last three years. Delek Logistics Partners has a payout ratio of 98.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Delek Logistics Partners to earn $2.80 per share next year, which means the company may not be able to cover its $4.42 annual dividend with an expected future payout ratio of 157.9%.

Delek Logistics Partners Stock Performance

DKL stock traded up $0.91 during midday trading on Monday, reaching $39.66. The company's stock had a trading volume of 228,112 shares, compared to its average volume of 156,801. Delek Logistics Partners has a 1 year low of $34.59 and a 1 year high of $45.71. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.28 and a beta of 1.62. The stock has a fifty day simple moving average of $40.39 and a two-hundred day simple moving average of $40.65.

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

Analysts Set New Price Targets

Separately, Raymond James increased their price objective 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 assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $44.25.

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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