Delek Logistics Partners, LP (NYSE:DKL) Plans Quarterly Dividend of $1.03

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 1.025 per share by the oil and gas producer on Wednesday, May 15th. This represents a $4.10 annualized dividend and a dividend yield of 10.21%. The ex-dividend date of this dividend is Tuesday, May 7th. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $0.25.

Delek Logistics Partners has increased its dividend payment by an average of 4.8% per year over the last three years. Delek Logistics Partners has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Delek Logistics Partners to earn $4.04 per share next year, which means the company should continue to be able to cover its $0.98 annual dividend with an expected future payout ratio of 24.3%.

Delek Logistics Partners Stock Performance

Shares of Delek Logistics Partners stock traded up $0.85 during trading on Friday, hitting $40.17. 148,962 shares of the stock traded hands, compared to its average volume of 73,744. The stock has a market cap of $1.75 billion, a P/E ratio of 13.85 and a beta of 2.07. Delek Logistics Partners has a twelve month low of $36.50 and a twelve month high of $58.81. The company has a fifty day moving average price of $41.06 and a two-hundred day moving average price of $44.20.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates of $0.85. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. The business had revenue of $254.15 million for the quarter, compared to the consensus estimate of $272.51 million. On average, equities research analysts expect that Delek Logistics Partners will post 3.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DKL has been the topic of a number of recent analyst reports. Raymond James raised Delek Logistics Partners from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note on Tuesday, March 19th. Truist Financial initiated coverage on Delek Logistics Partners in a research note on Friday, April 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Finally, StockNews.com raised Delek Logistics Partners from a "hold" rating to a "buy" rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Delek Logistics Partners currently has a consensus rating of "Moderate Buy" and an average price target of $45.33.

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.