Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Delek Logistics Partners, LP is a publicly traded master limited partnership (MLP) operating in the midstream energy infrastructure sector. The company primarily provides logistics, transportation, storage, and terminalling services for crude oil, refined petroleum products, and intermediate feedstocks. Its operations are closely aligned with downstream refining and wholesale fuel markets, with a significant portion of revenue generated under long-term, fee-based contracts that emphasize stability and cash flow visibility.
The partnership was formed in 2012 by its sponsor, Delek US Holdings, Inc., to own, operate, and acquire midstream logistics assets supporting refining and fuel distribution activities. Over time, Delek Logistics Partners has expanded beyond captive refinery support to serve third-party customers, strengthening its position as a regionally focused midstream operator with integrated pipeline, storage, and trucking capabilities.
Business Operations
Delek Logistics Partners operates through two primary business segments: Pipelines and Transportation and Storage and Terminalling. The Pipelines and Transportation segment includes crude oil, intermediate, and refined product pipelines, as well as trucking operations that transport crude oil and refined products. The Storage and Terminalling segment consists of inland terminals, tanks, and related infrastructure used for storing and handling petroleum products and feedstocks.
The partnership’s assets are strategically located near refineries, supply hubs, and end markets, enabling efficient product flow. Revenue is largely generated from long-term, fee-based contracts, many of which include minimum volume commitments. Delek US Holdings, Inc. remains the largest customer, though the partnership also serves third-party refiners, producers, and marketers. Operations are primarily domestic, with assets concentrated in the south-central and southeastern United States.
Strategic Position & Investments
Delek Logistics Partners’ strategy focuses on expanding its fee-based midstream earnings through organic growth projects, dropdown acquisitions from its sponsor, and selective third-party acquisitions. Growth initiatives have historically emphasized pipeline expansions, additional storage capacity, and logistics assets that enhance connectivity between refineries and key demand centers.
The partnership has made notable investments in pipeline and terminal expansions supporting refinery optimization and market access. Its relationship with Delek US Holdings, Inc. provides a consistent pipeline of potential assets and commercial opportunities, while management has also prioritized increasing third-party volumes to reduce customer concentration over time. The company remains focused on conventional energy infrastructure rather than speculative or early-stage technologies.
Geographic Footprint
Delek Logistics Partners’ operations are concentrated in the United States, with a strong presence in Texas, Arkansas, Louisiana, Tennessee, and New Mexico. These regions are strategically important due to their proximity to refining centers, crude oil production basins, and major fuel consumption markets.
The partnership does not have international operations, but its U.S. footprint provides indirect exposure to global energy markets through domestic refining and distribution systems that handle both domestic and imported crude oil and refined products.
Leadership & Governance
Delek Logistics Partners is externally managed by its general partner, which is controlled by Delek US Holdings, Inc. Governance follows the MLP structure, with strategic oversight provided by the general partner and day-to-day management handled by an executive team with extensive experience in refining and midstream logistics.
Key executives include:
- Ezra Yemin – President and Chief Executive Officer
- Shawn Shreve – Executive Vice President and Chief Financial Officer
- Mark Hobbs – Executive Vice President, Logistics and Transportation
- David Johnson – Vice President and Controller
Leadership emphasizes disciplined capital allocation, stable cash flow generation, and long-term contractual relationships, with a strategic vision centered on supporting refining operations while expanding third-party logistics services.