Delek Logistics Partners, LP (DKL) To Go Ex-Dividend on May 7th

Delek Logistics Partners, LP (NYSE:DKL) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, May 8th will be given a dividend of 1.025 per share by the oil and gas producer on Wednesday, May 15th. This represents a $4.10 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date of this dividend is Tuesday, May 7th. This is a boost 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% annually over the last three years. Delek Logistics Partners has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 2.2 %

DKL stock traded up $0.85 during trading hours on Friday, hitting $40.17. 148,962 shares of the stock were exchanged, compared to its average volume of 73,744. The firm has a market capitalization of $1.75 billion, a P/E ratio of 13.85 and a beta of 2.07. The company has a 50-day simple moving average of $41.06 and a two-hundred day simple moving average of $44.20. Delek Logistics Partners has a 12 month low of $36.50 and a 12 month high of $58.81.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $254.15 million for the quarter, compared to analysts’ expectations of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. On average, equities research analysts predict that Delek Logistics Partners will post 3.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DKL. StockNews.com upgraded Delek Logistics Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. 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. Finally, Truist Financial started 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. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Delek Logistics Partners presently 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.