PBF Logistics LP (NYSE:PBFX) Increases Dividend to $0.52 Per Share

PBF Logistics LP (NYSE:PBFX) declared a quarterly dividend on Thursday, August 1st, NASDAQ reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.515 per share by the pipeline company on Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date is Wednesday, August 14th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.51.

PBF Logistics has raised its dividend by an average of 11.0% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. PBF Logistics has a payout ratio of 110.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PBF Logistics to earn $1.85 per share next year, which means the company may not be able to cover its $2.06 annual dividend with an expected future payout ratio of 111.4%.

Shares of NYSE PBFX traded up $0.02 during trading on Tuesday, reaching $20.41. 2,368 shares of the stock were exchanged, compared to its average volume of 65,573. The business’s 50-day moving average price is $21.18. PBF Logistics has a twelve month low of $19.17 and a twelve month high of $23.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 7.19. The company has a market cap of $1.27 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 3.32 and a beta of 0.77.

PBF Logistics (NYSE:PBFX) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. PBF Logistics had a net margin of 25.63% and a return on equity of 50.22%. The business had revenue of $82.75 million for the quarter, compared to analysts’ expectations of $82.73 million. During the same period in the previous year, the company posted $0.39 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities analysts anticipate that PBF Logistics will post 1.54 earnings per share for the current year.

Separately, Zacks Investment Research cut shares of PBF Logistics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, July 20th.

About PBF Logistics

PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.

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Dividend History for PBF Logistics (NYSE:PBFX)

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