Delek Logistics Partners, LP (NYSE:DKL – Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 annualized dividend and a dividend yield of 10.33%. The ex-dividend date is Tuesday, May 7th. This is a positive change 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 payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Delek Logistics Partners to earn $4.04 per share next year, which means the company may not be able to cover its $4.10 annual dividend with an expected future payout ratio of 101.5%.
Delek Logistics Partners Trading Down 0.9 %
Shares of DKL opened at $39.70 on Monday. The company’s fifty day simple moving average is $40.46 and its 200 day simple moving average is $44.10. Delek Logistics Partners has a 1-year low of $36.50 and a 1-year high of $58.81. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 13.69 and a beta of 2.07.
Analysts Set New Price Targets
A number of research firms have recently issued reports on DKL. Raymond James raised Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Tuesday, March 19th. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Friday. Finally, Truist Financial began coverage on shares of Delek Logistics Partners in a report on Friday, April 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.
Read Our Latest Stock Report on Delek Logistics Partners
About Delek Logistics Partners
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.
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