Delek Logistics Partners, L.P. (NYSE:DKL) Announces Quarterly Dividend of $1.14

Delek Logistics Partners, L.P. (NYSE:DKL) announced a quarterly dividend on Friday, October 23rd. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $1.14 per share by the oil and gas producer on Tuesday, November 10th. This represents a $4.56 annualized dividend and a yield of 8.1%. The ex-dividend date is Tuesday, November 3rd. This is a 0.4% increase from Delek Logistics Partners’s previous quarterly dividend of $1.1350.

Delek Logistics Partners has a dividend payout ratio of 104.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Delek Logistics Partners to earn $6.49 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 70.3%.

Delek Logistics Partners Price Performance

Shares of NYSE DKL opened at $56.14 on Friday. Delek Logistics Partners has a 1 year low of $42.82 and a 1 year high of $61.50. The firm has a 50-day simple moving average of $55.77 and a two-hundred day simple moving average of $53.29. The company has a market cap of $3.21 billion, a P/E ratio of 19.56 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The business had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. As a group, equities research analysts expect that Delek Logistics Partners will post 3.94 EPS for the current year.

Insider Buying and Selling at Delek Logistics Partners

In related news, EVP Reuven Spiegel purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the executive vice president owned 29,549 shares of the company’s stock, valued at approximately $1,477,450. The trade was a 3.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Wright purchased 1,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, with a total value of $75,000.00. Following the acquisition, the executive vice president directly owned 7,994 shares of the company’s stock, valued at $399,700. This trade represents a 23.10% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 15,000 shares of company stock valued at $750,000. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Focus Financial Network Inc. lifted its holdings in shares of Delek Logistics Partners by 2.2% in the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after buying an additional 300 shares during the period. State of Wyoming purchased a new position in shares of Delek Logistics Partners during the first quarter valued at $67,000. Tidal Investments LLC increased its stake in shares of Delek Logistics Partners by 60.9% during the second quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock valued at $379,000 after buying an additional 2,786 shares during the period. Infrastructure Capital Advisors LLC raised its holdings in shares of Delek Logistics Partners by 2.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock valued at $7,786,000 after acquiring an additional 3,596 shares in the last quarter. Finally, Adams Asset Advisors LLC raised its holdings in shares of Delek Logistics Partners by 5.2% in the third quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer’s stock valued at $3,936,000 after acquiring an additional 3,675 shares in the last quarter. 11.75% of the stock is owned by institutional investors.

Delek Logistics Partners Company Profile

Delek Logistics Partners, L.P. (NYSE: DKL) is a master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics’ operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.