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DELEK LOGISTICS PARTNERS, LP - DKL STOCK NEWS

Welcome to our dedicated page for DELEK LOGISTICS PARTNERS, LP news (Ticker: DKL), a resource for investors and traders seeking the latest updates and insights on DELEK LOGISTICS PARTNERS, LP stock.

Delek Logistics Partners, LP (NYSE: DKL), based in Brentwood, Tennessee, is a dynamic publicly traded master limited partnership (MLP) established by Delek US Holdings in 2012. The company specializes in the ownership, operation, acquisition, and construction of crude oil and refined products logistics and marketing assets. A significant portion of their assets are crucial for supporting the refining operations of Delek's facilities in Tyler, Texas, and El Dorado, Arkansas.

Delek Logistics operates through several segments including Pipelines and Transportation, as well as Investments in Pipeline Joint Ventures. Their services encompass gathering, transporting, and storing crude oil, along with marketing, distributing, and storing refined products. These operations primarily serve Delek's refineries and also cater to third-party customers in the southeastern United States and West Texas.

The Pipelines and Transportation segment is the cornerstone of Delek Logistics' business, featuring pipelines, tanks, offloading facilities, and trucks that facilitate the movement and storage of crude oil and refined products. This segment is responsible for the majority of the company's revenue, showcasing their extensive infrastructure.

Recent achievements highlight Delek Logistics' proactive approach in financial management and expansion. On March 7, 2024, the company announced a public offering of $120 million in common units, with an additional option for underwriters to purchase $13.5 million more. This initiative aims to repay outstanding borrowings under its revolving credit agreement, showcasing their commitment to financial health.

In another significant move, Delek Logistics revealed the pricing of a public offering of 3,116,884 common units at $38.50 per unit on March 7, 2024. The net proceeds are intended to further strengthen their financial standing by reducing debt. Additionally, a tender offer for 6.75% Senior Notes due in 2025, announced on March 11, 2024, further emphasizes their strategic financial maneuvers.

Delek Logistics’ extensive network and joint ventures, particularly in the Permian and Delaware Basins, underline their pivotal role in the midstream energy sector. They provide a range of services including crude oil gathering, transportation, and storage, as well as wholesale marketing and terminalling, which are integral to their operations and growth strategy.

The strong backing from Delek Holdings, which owns the general partner interest and a majority limited partner interest, coupled with their significant customer relationship, adds to Delek Logistics' stability and growth potential. Investors can stay updated with the latest developments and financial performance through their investor relations webpage and news releases.

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Delek US Holdings, Inc. (DK) has announced a $0.005 increase in its regular quarterly dividend to $0.255 per share. The dividend will be paid on August 19, 2024, to shareholders of record on August 12, 2024. Delek US is a diversified downstream energy company with assets in petroleum refining, logistics, pipelines, renewable fuels, and convenience store retailing. The company operates refineries in Texas, Arkansas, and Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day. Delek US also has an ownership interest in the 650-mile Wink to Webster long-haul crude oil pipeline and operates approximately 250 convenience stores in West Texas and New Mexico. Additionally, Delek US owns about 72.6% of Delek Logistics Partners, LP (NYSE: DKL) as of June 30, 2024.

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Delek Logistics Partners, LP (NYSE: DKL) has announced its quarterly cash distribution for the second quarter of 2024. The company will distribute $1.09 per common partner unit, which equates to $4.36 per unit on an annualized basis. This distribution is set to be paid on August 16, 2024, to unitholders of record as of August 9, 2024. This announcement represents an increase in the company's quarterly cash distribution, demonstrating Delek Logistics' commitment to delivering value to its unitholders.

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Delek US Holdings (NYSE: DK) has scheduled a conference call to discuss its second quarter 2024 results on August 6, 2024. The press release summarizing the results will be issued before the U.S. stock market opens. Scheduled to start at 11:00 a.m. CT (12:00 p.m. ET), the conference call will be accessible live online through the company's investor relations section on their website. An online replay will also be available for 90 days.

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Delek Logistics Partners (NYSE: DKL) will release its second quarter 2024 financial results before the U.S. stock market opens on August 6, 2024. The company will host a conference call to discuss these results on the same day at 12:30 p.m. CT (1:30 p.m. ET). Interested parties can access the live broadcast and subsequent 90-day replay online at the company's website, www.DelekLogistics.com, under the webcasts section.

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Delek Logistics Partners, LP (NYSE: DKL) reported a net income of $32.6 million for the first quarter of 2024, with earnings before interest, taxes, depreciation and amortization (EBITDA) of $101.5 million. Distributable cash flow stood at $68.0 million, with a coverage ratio of 1.35x. The company executed $850 million debt and $138 million equity offerings, improving liquidity to $800.0 million. With a total of 47.2 million outstanding units, Delek Logistics delivered its 45th consecutive distribution growth, now at $1.070 per unit.

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Delek US Holdings, Inc. reported a net loss of $32.6 million in the first quarter of 2024, with adjusted net loss of $26.2 million. They successfully executed debt and equity offerings, improving liquidity to $800 million. The company added 3.6 million DKL units, increased volume activity, and improved leverage ratio. They paid $15.7 million in dividends and increased quarterly dividend to $0.250 per share. The refining segment's Adjusted EBITDA was $106.1 million, logistics segment's was $99.7 million, and retail segment's was $6.5 million. Corporate and other activities reported a loss of $(53.6) million. Delek US had a cash balance of $753.4 million and total long-term debt of $2,496.9 million.

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Delek US Holdings, Inc. announced an increase in the regular quarterly dividend to $0.25 per share. The dividend will be paid on May 24, 2024, to shareholders of record on May 17, 2024. Delek US is a diversified downstream energy company with refining, logistics, pipelines, renewable fuels, and convenience store retailing assets.

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Delek Logistics Partners, LP announced an increase in its quarterly cash distribution to $1.07 per common partner unit for the first quarter of 2024, marking a 4.4% rise from the previous year. The distribution amounts to $4.28 per common partner unit annually. The distribution will be paid on May 15, 2024, to unitholders of record on May 8, 2024. Additionally, Delek Logistics is seeking financial flexibility by filing a 'shelf' registration statement with the SEC for up to $500 million.
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Delek Logistics Partners, LP priced an offering of $200 million in additional 8.625% senior notes due 2029 at 101.250% of face value. The proceeds will be used to repay borrowings under its revolving credit facility. The offering is expected to close on April 17, 2024.
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Delek Logistics Partners, LP (DKL) plans to offer $200 million in additional 8.625% senior notes due 2029 to repay borrowings under its revolving credit facility. The notes will be offered to qualified institutional buyers and non-U.S. persons, exempt from registration under the Securities Act.
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FAQ

What is the current stock price of DELEK LOGISTICS PARTNERS, LP (DKL)?

The current stock price of DELEK LOGISTICS PARTNERS, LP (DKL) is $40.49 as of December 20, 2024.

What is the market cap of DELEK LOGISTICS PARTNERS, LP (DKL)?

The market cap of DELEK LOGISTICS PARTNERS, LP (DKL) is approximately 2.1B.

What is Delek Logistics Partners, LP?

Delek Logistics Partners, LP is a publicly traded master limited partnership focused on owning, operating, acquiring, and constructing crude oil and refined products logistics and marketing assets.

Where is Delek Logistics Partners, LP headquartered?

Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee.

What are the primary segments of Delek Logistics Partners, LP?

The primary segments are Pipelines and Transportation, and Investments in Pipeline Joint Ventures.

What recent financial initiatives have Delek Logistics Partners, LP undertaken?

Recently, Delek Logistics announced a public offering of $120 million in common units and the pricing of 3,116,884 common units at $38.50 per unit, among other strategic financial maneuvers.

How does Delek Logistics Partners, LP support Delek Holdings?

Delek Logistics supports Delek Holdings by providing essential logistics and marketing services, including gathering, transporting, and storing crude oil and refined products.

What regions does Delek Logistics Partners, LP serve?

Delek Logistics serves the southeastern United States and West Texas.

What types of services does Delek Logistics Partners, LP offer?

Services include crude oil gathering, transportation, storage, marketing, distribution, and refining products transportation and storage.

What is the relationship between Delek Holdings and Delek Logistics Partners, LP?

Delek Holdings is the sponsor and owner of the general partner interest and a majority limited partner interest in Delek Logistics.

How does Delek Logistics Partners, LP generate revenue?

Most of Delek Logistics' revenue is generated by the Pipelines and Transportation segment, which includes pipelines, tanks, offloading facilities, trucks, and ancillary assets.

Where can investors find more information about Delek Logistics Partners, LP?

Investors can visit Delek Logistics’ investor relations webpage and news releases at www.deleklogistics.com for more information.

DELEK LOGISTICS PARTNERS, LP

NYSE:DKL

DKL Rankings

DKL Stock Data

2.08B
12.45M
67.22%
14.82%
1.75%
Oil & Gas Refining & Marketing
Pipe Lines (no Natural Gas)
Link
United States of America
BRENTWOOD