Delek Logistics Partners, LP (NYSE:DKL) Declares Quarterly Dividend of $1.02

Delek Logistics Partners, LP (NYSE:DKL – Get Rating) announced a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Thursday, February 2nd will be paid a dividend of 1.02 per share by the oil and gas producer on Thursday, February 9th. This represents a $4.08 annualized dividend and a dividend yield of 8.25%. The ex-dividend date of this dividend is Wednesday, February 1st. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.99.

Delek Logistics Partners has raised its dividend by an average of 5.4% per year over the last three years and has increased its dividend every year for the last 9 years. Delek Logistics Partners has a dividend payout ratio of 72.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Delek Logistics Partners to earn $5.54 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 71.5%.

Delek Logistics Partners Trading Up 2.9 %

Shares of Delek Logistics Partners stock opened at $49.47 on Wednesday. Delek Logistics Partners has a 12 month low of $39.00 and a 12 month high of $64.46. The stock’s fifty day moving average price is $48.25 and its 200-day moving average price is $52.34. The firm has a market cap of $2.15 billion, a P/E ratio of 13.59 and a beta of 2.15.

Delek Logistics Partners (NYSE:DKL – Get Rating) last posted its earnings results on Monday, November 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. Delek Logistics Partners had a net margin of 16.51% and a negative return on equity of 143.27%. The business had revenue of $294.03 million for the quarter, compared to the consensus estimate of $313.48 million. Analysts forecast that Delek Logistics Partners will post 3.95 earnings per share for the current year.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin sold 3,396 shares of Delek Logistics Partners stock in a transaction on Monday, November 14th. The shares were sold at an average price of $56.31, for a total value of $191,228.76. Following the transaction, the chairman now directly owns 208,006 shares of the company’s stock, valued at $11,712,817.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 37,859 shares of company stock valued at $2,125,813 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SNC acquired a new stake in Delek Logistics Partners in the 3rd quarter worth approximately $121,000. BNP Paribas Arbitrage SA purchased a new position in shares of Delek Logistics Partners in the first quarter worth $209,000. Vident Investment Advisory LLC lifted its stake in shares of Delek Logistics Partners by 7.6% during the first quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock worth $312,000 after buying an additional 499 shares during the period. Royal Bank of Canada raised its stake in Delek Logistics Partners by 6.7% in the 1st quarter. Royal Bank of Canada now owns 8,000 shares of the oil and gas producer’s stock worth $352,000 after acquiring an additional 500 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its position in Delek Logistics Partners by 38.4% during the 1st quarter. First Republic Investment Management Inc. now owns 9,835 shares of the oil and gas producer’s stock worth $433,000 after acquiring an additional 2,729 shares during the period. Hedge funds and other institutional investors own 12.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DKL shares. Citigroup began coverage on shares of Delek Logistics Partners in a report on Thursday, December 8th. They set a “neutral” rating and a $48.00 price objective on the stock. StockNews.com initiated coverage on Delek Logistics Partners in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Delek Logistics Partners Company Profile

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Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates through three segments: Pipelines and Transportation, Wholesale Marketing and Terminalling, and Investment in Pipeline Joint Ventures. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and refined products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties.