PBF Logistics LP (NYSE:PBFX) Announces Dividend Increase – $0.52 Per Share

PBF Logistics LP (NYSE:PBFX) announced a quarterly dividend on Thursday, February 13th, Zacks reports. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.52 per share by the pipeline company on Tuesday, March 17th. This represents a $2.08 annualized dividend and a dividend yield of 9.93%. The ex-dividend date of this dividend is Monday, February 24th. This is a boost from PBF Logistics’s previous quarterly dividend of $0.52.

PBF Logistics has raised its dividend payment by an average of 3.8% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. PBF Logistics has a payout ratio of 96.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect PBF Logistics to earn $2.17 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 95.9%.

Shares of NYSE PBFX traded down $0.09 during trading on Friday, hitting $20.94. 505 shares of the company traded hands, compared to its average volume of 65,834. PBF Logistics has a 1 year low of $19.32 and a 1 year high of $23.69. The company has a 50-day moving average price of $20.99 and a 200-day moving average price of $20.89. The firm has a market capitalization of $1.29 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.39 and a beta of 0.84. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 7.48.

PBF Logistics (NYSE:PBFX) last announced its quarterly earnings data on Thursday, February 13th. The pipeline company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. PBF Logistics had a net margin of 28.14% and a return on equity of 65.51%. The company had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $88.73 million. During the same period in the previous year, the company earned $0.48 EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Research analysts predict that PBF Logistics will post 1.7 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. Wells Fargo & Co reaffirmed a “hold” rating on shares of PBF Logistics in a research report on Friday, December 6th. Zacks Investment Research downgraded PBF Logistics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 25th.

PBF Logistics Company Profile

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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