Delek Logistics Partners Increases Q4 Cash Distribution

By Zacks Investment ResearchStock MarketsJan 23, 2018 10:20PM ET

www.investing.com/analysis/delek-logistics-partners-increases-q4-cash-distribution-200283222

Delek Logistics Partners Increases Q4 Cash Distribution

By Zacks Investment Research | Jan 23, 2018 10:20PM ET

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Delek Logistics Partners, LP (NYSE:DKL) announced an increase in quarterly cash distribution for fourth-quarter 2017 to 72.5 cents per limited partner unit, or $2.90 per limited partner unit on an annualized basis. This distribution represents a 1.4% increase from the distribution for third-quarter 2017 of 71.5 cents per limited partner unit ($2.86 per limited partner unit annualized). The fourth-quarter 2017 cash distribution is payable on Feb 12, 2018 to unit holders of record on Feb 2, 2018.

The increase additionally marks a 6.6% increase over Delek Logistics’ distribution for fourth-quarter 2016 of 68 cents per limited partner unit ($2.72 per limited partner unit annualized).

What led to the Move?

The partnership boasts steady cash flow and balance sheet position. Notably, the partnership’s distributable cash flow was pegged at $21.6 million in third-quarter 2017 compared with $19.1 million in third-quarter 2016. The steady cash flow position must have prompted the partnership to increase quarterly distribution for the 20th consecutive quarter since its IPO.

As such, the partnership’s decision to raise cash distributions reflects its aim to return a higher value to unitholders compared with previous quarters. Per the management’s opinion, the current financial flexibility and balance sheet position are expected to aid management to increase quarterly distribution by atleast 10% annually through 2019.

Price Movement

In the last three months, shares of Delek Logistics have gained 18.1%, underperforming the industry’s growth of 18.3%.

Zacks Rank & Stocks to Consider

Delek Logistics currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks from the sector include Cloud Peak Energy Inc (NYSE:CLD) and Continental Resources, Inc. (NYSE:CLR) , both sporting a Zacks Rank #1 (Strong Buy), while Tesoro Corporation (NYSE:ANDV) carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Cloud Peak delivered an average surprise of 310.00% in the trailing four quarters. Its 2018 earnings growth estimates are pegged at 84.2% year over year.

Continental Resources delivered positive average earnings surprise of 69.45% in the last four quarters. Its 2018 earnings growth estimates are pegged at 280% year over year.

Tesoro delivered an average surprise of 37.80% in the trailing four quarters. Its 2018 earnings growth estimates are pegged at 48.3% year over year.

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Delek Logistics Partners, L.P. (DKL): Free Stock Analysis Report

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Delek Logistics Partners Increases Q4 Cash Distribution

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