Delek Logistics Partners (DKL) Declares $1.02 Dividend
Delek Logistics Partners said on January 23, 2023 that its board of directors declared a regular quarterly dividend of $1.02 per share ($4.08 annualized). Shareholders of record as of February 1, 2023 will receive the payment on February 9, 2023. Previously, the company paid $0.99 per share.
At the current share price of $49.68 / share, the stock's dividend yield is 8.21%. Looking back five years and taking a sample every week, the average dividend yield has been 10.98%, the lowest has been 6.37%, and the highest has been 51.38%. The standard deviation of yields is 5.64 (n=236).
The current dividend yield is 0.49 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.12%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 1.45% Downside
As of January 31, 2023, the average one-year price target for Delek Logistics Partners is $48.96. The forecasts range from a low of $48.48 to a high of $50.40. The average price target represents a decrease of 1.45% from its latest reported closing price of $49.68.
The projected annual revenue for Delek Logistics Partners is $1,341MM, an increase of 40.09%. The projected annual EPS is $5.60, an increase of 53.91%.
Fund Sentiment
There are 85 funds or institutions reporting positions in Delek Logistics Partners. This is an increase of 6 owner(s) or 7.59%.
Average portfolio weight of all funds dedicated to US:DKL is 0.2919%, a decrease of 24.5908%. Total shares owned by institutions increased in the last three months by 12.09% to 8,546K shares.
What are large shareholders doing?
AMLP - ALERIAN MLP ETF holds 1,305,450 shares representing 3.00% ownership of the company.
Alps Advisors holds 1,253,434 shares representing 2.88% ownership of the company.
Invesco holds 1,184,587 shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 1,898,842 shares, representing a decrease of 60.30%. The firm decreased its portfolio allocation in DKL by 93.58% over the last quarter.
MLPA - Global X MLP ETF holds 1,155,914 shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 1,181,374 shares, representing a decrease of 2.20%. The firm decreased its portfolio allocation in DKL by 24.48% over the last quarter.
Mirae Asset Global Investments Co. holds 1,076,856 shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 1,149,963 shares, representing a decrease of 6.79%. The firm decreased its portfolio allocation in DKL by 42.35% over the last quarter.
Delek Logistics Partners Background Information
(This description is provided by the company.)
Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, was formed by Delek US Holdings, Inc. to own, operate, acquire and construct crude oil and refined products logistics and marketing assets.
This story originally appeared on Fintel.