This week, I'm seeking a second robust dividend energy sector representative for my new Ivy portfolio. 

That energy sector includes six industries all related to bringing oil and gas to market. They are: drilling, exploration and production (E&P), equipment and services, integrated, midstream, refining & marketing. (Yes, six oily and gassy enterprises.)

Today I'm reviewing a small-cap oil & gas midstream company, named Delek Logistics Partners LP Its trading ticker symbol is DKL.

Delek Logistics Partners LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling.

The Pipelines and Transportation segment consists of pipelines and trucks, and ancillary assets that include 400 miles of crude oil transportation pipelines; 406 miles of refined product pipelines; and approximately 600 miles of crude oil gathering and trunk lines with an aggregate of approximately 7.3 million barrels of active shell capacity to provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offering crude oil and other products transportation services to third parties. 

The Wholesale Marketing and Terminalling segment provides wholesale marketing, transporting, storing, and terminalling services related to refined products to independent third parties. 

Delek Logistics GP, LLC serves as the general partner of the company. 

Delek Logistics Partners, LP was founded in 2012 and is headquartered in Brentwood, Tennessee. 

Delek Logistics Partners, LP operates as a subsidiary of Delek US Holdings, Inc.

I use three key data points to gauge the value of any dividend equity or fund like Delek Logistics Partners L.P.: 

(1) Price

(2) Dividends

(3) Returns

Besides those three, four more keys will finally unlock an equity or fund in which to invest.

But those first three primary keys, best tell whether a company has made, is making, and will make money. 

DKL Price

Delek's price per share was $31.98 at yesterday's market close. A year ago its price was $29.75 for a price gain of $2.23 per share for the year, or a 7% upside. 

Assuming Delek's price will trade in the range of $25 to $35 next year, Delek's recent $31.98 price could maybe climb by $2.00 and improve to $33.98 by early-December, 2019. 

DKL Dividends

Delek's most recent quarterly dividend was $0.79 declared October 23rd and paid out, November 9th. 

That $0.79 quarterly stipend equates to an annual amount of $3.16 yielding 9.88% at  yesterday's closing $31.98 price.

Gains For DKL?

Adding the $3.16 annual dividend to my estimated $2.00 annual price upside estimate for Delek Logistics Partners, L.P. adds up to a $5.16 potential gross annual per share gain, which will be reduced by costs to trade the shares.  

For a little under $1,000.00 invested today at the $31.98 recent price we could buy 31 DKL shares. 

A $10 broker fee paid half at purchase and half at sale costs us $0.32 per share.

Subtract that $0.32 brokerage cost from the estimated $5.16 gross annual gain leaves a net gain of $4.84 X 31 shares 

= $150.04

for a 15% net gain on a $991.38 investment.

Therefore, Delek Logistics Partners, L.P. whose trading ticker symbol is DKL, now shows a possible 15% net gain including a 9.88% dividend yield. 

Four brokers cover this stock:

One expects DKL shares to "outperform" its peers

Five say "hold" your DKL shares

One expects DKL shares to "underperform" its peers

The median price consensus among those four brokers is a 33.75 target, nearly $0.23 under my $33.98 estimate.

Therefore, you can look at Delek Logistics Partners, L.P. and see it has made money, is making money, but could net a 14% to 15% net annual gain including that  9.88% dividend yield. It could be more, it could be less. 

The above speculation is based on past year performance. The actual results remain to be seen to determine if Delek Logistics Partners, L.P is worth your time and money.