DNY59/iStock via Getty Images Background I recently completed an overview of the energy midstream sector based on forward yield, yield coverage, value, profitability, growth, and leverage. Despite a mouth-watering forward yield of 8.53%, strong growth, and favorable valuation, Delek Logistics Partners ( DKL ) appeared less favorable than most of its peers with the single weakest yield coverage and...
DNY59/iStock via Getty Images Background I recently completed an overview of the energy midstream sector based on forward yield, yield coverage, value, profitability, growth, and leverage. Despite a mouth-watering forward yield of 8.53%, strong growth, and favorable valuation, Delek Logistics Partners ( DKL ) appeared less favorable than most of its peers with the single weakest yield coverage and very high leverage. My analysis included both corporations and limited partnerships that often define the financial strength behind their yield with their own uniquely defined non-GAAP payout ratio or distribution coverage. In order to make a meaningful comparison, yield coverage was defined in cash flow terms over the last twelve months as: cash from operations/common and preferred dividends or distributions = yield coverage As defined, yield coverage neither begins with net income like payout ratio nor accounts for maintenance CapEx like distributable cash flow. It does allow a direct comparison between midstreams regardless of their business structure or non-GAAP accounting practices. Delek Versus Peers It's not all about yield, coverage ratio, or leverage; distribution growth counts too. Delek's metrics are plotted beside its four highest-yield peers. Author First off, both CrossAmerica Partners ( CAPL ) and Western Midstream ( WES ) offer a slightly higher yield, but clearly Delek is committed to rewarding unit holders with thirteen years of consecutive distribution growth - the best record in the group. Delek's 4% 3-year growth rate is somewhat anemic, especially compared to that of WES and Plains All American Pipeline ( PAA ) at 22% and 19%, respectively. At 1.0X, Delek's coverage ratio is the lowest of the group and substantially weaker than that of both Hess Midstream ( HESM ) and PAA at 2.8X and 2.3X, respectively. Lastly, Delek's leverage with net debt at 8.0 times EBITDA is the highest in the group. Overall, Delek's distribution yield and distribution growth hi...
Dwayne Schnell | 500px Plus | Getty Images Oil prices fell on Friday after President Donald Trump said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week as a "present" to the United States, signaling a tentative easing of tensions in the critical shipping chokepoint. International benchmark Brent crude futures declined 1.92% to $105.94 per barrel, while U.S. West Texas...
Dwayne Schnell | 500px Plus | Getty Images Oil prices fell on Friday after President Donald Trump said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week as a "present" to the United States, signaling a tentative easing of tensions in the critical shipping chokepoint. International benchmark Brent crude futures declined 1.92% to $105.94 per barrel, while U.S. West Texas Intermediate futures slipped 1.76% to $92.82 per barrel. Speaking during a Cabinet meeting on Thursday, Trump described the development as a goodwill gesture from Tehran amid what he characterized as ongoing diplomatic engagement. "They said, 'To show you the fact that we're real and solid and we're there, we're going to let you have eight boats of oil ... and they'll sail up tomorrow,'" Trump said, referring to Iran. Stock Chart Icon Stock chart icon Oil prices since the start of the year He added that the shipment ultimately grew larger. "They then apologized for something they said, and they said, 'We're going to send two more boats.' And [it] ended up being 10 boats," he said. The comments appear to shed light on remarks Trump made earlier this week, when he said Iran had "given us a present" related to oil and gas but did not provide further details at the time. Markets have been closely monitoring developments in the Strait of Hormuz for signs of disruption or de-escalation, as tensions between Washington and Tehran continue to inject volatility into energy prices. The strait is a vital artery for global crude flows. Trump's remarks suggest that at least some oil shipments are continuing to move through the waterway, potentially easing immediate supply concerns. However, analysts cautioned that the broader oil market remains increasingly fragile, even if isolated shipments resume. "The oil market did not underreact to the disruption in the Strait of Hormuz; it absorbed it," said Paola Rodriguez-Masiu, chief oil analyst at Rystad Energy. "For nearly four weeks, market...
In August, Education Department employees will relocate to a smaller office roughly a block away, and the larger Energy Department will take over the old headquarters. (Image credit: Saul Loeb)
In August, Education Department employees will relocate to a smaller office roughly a block away, and the larger Energy Department will take over the old headquarters. (Image credit: Saul Loeb)
The average one-year price target for Shanghai Putailai New Energy Technology Group Co. (SHSE:603659) has been revised to CN¥32.61 / share. This is an increase of 10.04% from the prior estimate of CN¥29.63 dated February 21, 2026. The price target is an averag
The average one-year price target for Shanghai Putailai New Energy Technology Group Co. (SHSE:603659) has been revised to CN¥32.61 / share. This is an increase of 10.04% from the prior estimate of CN¥29.63 dated February 21, 2026. The price target is an averag
Former Taiwanese Presidential Candidate Sentenced To 17 Years In Corruption Case Authored by Dorothy Li & Frank Fang via The Epoch Times (emphasis ours), TAIPEI, Taiwan - A Taipei court on March 26 found a former presidential candidate guilty of corruption-related charges and sentenced him to 17 years in prison , a verdict that has attracted domestic media attention amid the ongoing political dead...
Former Taiwanese Presidential Candidate Sentenced To 17 Years In Corruption Case Authored by Dorothy Li & Frank Fang via The Epoch Times (emphasis ours), TAIPEI, Taiwan - A Taipei court on March 26 found a former presidential candidate guilty of corruption-related charges and sentenced him to 17 years in prison , a verdict that has attracted domestic media attention amid the ongoing political deadlock in Taiwan. Ko Wen-je, former Taipei mayor who ran in Taiwan's presidential race in 2024, leaves the Taipei District Court in Taipei on March 26, 2026. Song Pi-lung/The Epoch Times Ko Wen-je, former mayor of Taipei, was convicted on four counts, including accepting bribes, embezzlement, and breach of trust , the Taipei District Court said in a press release. In addition to the lengthy prison sentence, the court said that Ko would also be stripped of civil rights for six years. Taiwan’s semi-official media outlet Central News Agency (CNA) described Ko as the first leader of a major opposition party in Taiwan’s history to be sentenced to prison. Ko founded the Taiwan People’s Party (TPP) during his second term as Taipei mayor, and ran a high-profile campaign for the presidency in January 2024. While 66-year-old Ko has the option to appeal, the verdict is likely to prevent him from running for president again in 2028. Under Taiwan’s election law, individuals sentenced to more than 10 years in prison cannot be registered as candidates for president or vice president. Ko was indicted in December 2024. Prosecutors had sought more than 28 years’ imprisonment for Ko, accusing him of accepting roughly half a million dollars in bribes from a web of businesspeople and politicians related to a property redevelopment project in Taipei. In a separate statement, the Taipei District Prosecutors’ Office said that it will promptly review the judgment upon receipt and, if necessary, file an appeal within the legal timeframe. Ko has consistently denied any wrongdoing since his arrest in Se...