Delek Logistics Partners (NYSE:DKL) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Delek Logistics Partners (NYSE:DKL) posted its quarterly earnings results on Tuesday. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06, Zacks reports. The firm had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. Delek Logistics Partners had a net margin of 11.81% and a negative return on equity of 115.32%. During the same period in the previous year, the business posted $0.73 earnings per share.

Delek Logistics Partners Stock Up 1.1 %

Shares of Delek Logistics Partners stock traded up $0.42 during trading on Wednesday, reaching $40.21. The company’s stock had a trading volume of 181,111 shares, compared to its average volume of 81,832. The business has a 50 day moving average price of $40.19 and a 200-day moving average price of $41.09. The company has a market capitalization of $1.90 billion, a P/E ratio of 14.42 and a beta of 2.12. Delek Logistics Partners has a 12-month low of $36.50 and a 12-month high of $53.80.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 10.84%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio is 154.51%.

Analysts Set New Price Targets

A number of brokerages recently commented on DKL. StockNews.com upgraded Delek Logistics Partners from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Truist Financial started coverage on Delek Logistics Partners in a research report on Friday, April 19th. They issued a “buy” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

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.