Dividend To Observe: $0.66 dividends are now a reality for Delek Logistics Partners, L.P. (NYSE:DKL) shareholders. Here’s why.

Dividend To Observe: $0.66 dividends are now a reality for Delek Logistics Partners, L.P. (NYSE:DKL) shareholders. Here's why.

Delek Logistics Partners, L.P. (NYSE:DKL) is expected to pay $0.66 on Nov 14, 2016. The indicated annual dividend is $2.62. Shareholders owning the stock before Nov 3, 2016 will be eligible to receive the payout. Based on Delek Logistics Partners, L.P.’s current price of $23.75, the dividend is 2.76%. This dividend’s record date is Nov 7, 2016 and the announcement date is Oct 26, 2016. The stock decreased 4.23% or $1.05 on November 1, hitting $23.75. Delek Logistics Partners LP (NYSE:DKL) has declined 24.36% since March 31, 2016 and is downtrending. It has underperformed by 26.89% the S&P500.

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The company has a market cap of $578.47 million. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc. , and assets acquired from unrelated third parties. It has a 9.63 P/E ratio. The Firm operates through two divisions: Pipelines and Transportation segment, and Wholesale Marketing and Terminalling segment.

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.05, from 1.05 in 2016Q1. The ratio turned negative, as 6 funds sold all Delek Logistics Partners LP shares owned while 15 reduced positions. 9 funds bought stakes while 12 increased positions. They now own 7.75 million shares or 2.51% less from 7.95 million shares in 2016Q1.
First Trust Advsrs Ltd Partnership, a Illinois-based fund reported 161,638 shares. Parkside Fincl Bank Tru reported 8,210 shares or 0.11% of all its holdings. Tph Asset Mngmt Ltd Liability Com last reported 510,083 shares in the company. Barclays Public Ltd Llc last reported 0% of its portfolio in the stock. Peak6 Lp, a Illinois-based fund reported 7,889 shares. Blackrock Advsrs Limited Liability Company holds 0.01% or 221,170 shares in its portfolio. Citigroup Inc has invested 0% of its portfolio in Delek Logistics Partners LP (NYSE:DKL). Moreover, Deutsche Commercial Bank Ag has 0% invested in Delek Logistics Partners LP (NYSE:DKL) for 88,172 shares. Liberty Mutual Asset Management has 47,682 shares for 0.05% of their US portfolio. Manufacturers Life Insurance The has 450 shares for 0% of their US portfolio. Moreover, Creative Planning has 0% invested in Delek Logistics Partners LP (NYSE:DKL) for 4,485 shares. Wells Fargo & Co Mn holds 0% of its portfolio in Delek Logistics Partners LP (NYSE:DKL) for 16,730 shares. Kornitzer Cap Mgmt Ks holds 0.07% of its portfolio in Delek Logistics Partners LP (NYSE:DKL) for 140,000 shares. Royal Bank Of Canada has invested 0% of its portfolio in Delek Logistics Partners LP (NYSE:DKL). Clearbridge Investments Ltd Liability Corporation accumulated 648,643 shares or 0.02% of the stock.

Delek Logistics Partners LP (NYSE:DKL) Ratings Coverage

Out of 5 analysts covering Delek Logistics Partners (NYSE:DKL), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Delek Logistics Partners has been the topic of 9 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks on Thursday, August 6 to “Hold”. Barclays Capital maintained it with “Equal-Weight” rating and $30 target price in Thursday, August 11 report. JP Morgan initiated the shares of DKL in a report on Friday, September 11 with “Overweight” rating. The rating was upgraded by Goldman Sachs on Tuesday, June 21 to “Buy”. The firm earned “Market Perform” rating on Monday, October 3 by Wells Fargo. The firm earned “Neutral” rating on Monday, May 9 by Piper Jaffray. Piper Jaffray reinitiated the shares of DKL in a report on Friday, April 1 with “Overweight” rating.

More notable recent Delek Logistics Partners LP (NYSE:DKL) news were published by: Seekingalpha.com which released: “Delek Logistics Partners LP’s (DKL) CEO Ezra Uzi Yemin on Q3 2016 Results …” on November 01, 2016, also Reuters.com with their article: “BRIEF-Delek Logistics Partners Lp – Caddo pipeline to be completed in Jan …” published on November 01, 2016, Businesswire.com published: “Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.655 …” on October 25, 2016. More interesting news about Delek Logistics Partners LP (NYSE:DKL) were released by: Nasdaq.com and their article: “Delek Logistics Partners LP Breaks Below 200-Day Moving Average – Notable for DKL” published on October 03, 2016 as well as Businesswire.com‘s news article titled: “Delek Logistics Partners, LP Reports Second Quarter 2016 Results” with publication date: August 04, 2016.

DKL Company Profile

Delek Logistics Partners, LP, incorporated on April 24, 2012, owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc. (Delek), and assets acquired from unrelated third parties. The Firm operates through two divisions: Pipelines and Transportation segment, and Wholesale Marketing and Terminalling segment. The Firm engaged in the gathering, transporting and storing crude oil; storing intermediate products and feed stocks, and marketing, distributing, transporting and storing refined products. The Firm also provides crude oil, intermediate and refined products transportation services for terminaling, and marketing services to third parties primarily in Texas, Tennessee and Arkansas. It was formed by Delek US Holdings, Inc. (Delek) and its indirect subsidiary, Delek Logistics GP, LLC.

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