Delek Logistics Partners (DKL) Announces Quarterly Earnings Results

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Delek Logistics Partners (NYSE:DKL) issued its quarterly earnings data on Tuesday. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.16), MarketWatch Earnings reports. Delek Logistics Partners had a net margin of 13.22% and a negative return on equity of 103.52%.

Shares of DKL stock traded down $0.10 during mid-day trading on Wednesday, reaching $30.63. 49,200 shares of the company were exchanged, compared to its average volume of 44,411. Delek Logistics Partners has a fifty-two week low of $26.50 and a fifty-two week high of $35.50. The company has a market capitalization of $769.66 million, a P/E ratio of 14.66 and a beta of 1.20.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, November 1st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 10.32%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.77. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 151.20%.

Several brokerages have issued reports on DKL. ValuEngine downgraded shares of Delek Logistics Partners from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded shares of Delek Logistics Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Credit Suisse Group began coverage on shares of Delek Logistics Partners in a research report on Thursday, October 11th. They issued an “underperform” rating and a $31.00 price objective for the company. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and an average target price of $33.67.

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About Delek Logistics Partners

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 in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.

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Earnings History for Delek Logistics Partners (NYSE:DKL)

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