BRENTWOOD, Tenn.—Yemin Ezra Uzi, the Executive Chairman of Delek Logistics Partners, LP (NYSE:DKL), recently acquired additional shares of the company. According to a Form 4 filing with the Securities and Exchange Commission, Yemin purchased 710 common units, representing a limited partner interest, on November 14, 2024. The shares were acquired at a price of $38.718 per unit, amounting to a total transaction value of approximately $27,500.
Following this transaction, Yemin directly owns 54,851.268 shares. Additionally, through indirect ownership via Yemin Investments, LP, he holds 158,467 shares. This acquisition reflects Yemin's continued investment in Delek Logistics, a company engaged in the energy and transportation sector.
In other recent news, Delek Logistics Partners has reported a record-breaking third quarter, with an adjusted EBITDA of approximately $107 million. This milestone performance is attributed to the company's strategic transactions, which have bolstered its presence in the prolific Permian Basin. The company anticipates continued strong performance in the future, although it cautions that actual results may vary due to potential risks and uncertainties.
Meanwhile, Truist Securities has adjusted its outlook on Delek Logistics Partners, raising the price target to $50.00 from the previous $46.00, while maintaining a Buy rating on the stock. This adjustment is based on the company's recent completion of several strategic transactions and robust organic activities throughout the quarter.
Furthermore, the firm's analyst noted that Delek Logistics has evolved into a more comprehensive entity with an improved market presence and operational prospects. There is also anticipation of a significant uplift for Delek Logistics' units with the upcoming rebalancing of the Alerian MLP ETF, due to several existing members exiting and others maintaining a substantial weighting. These are the recent developments for Delek Logistics Partners.
InvestingPro Insights
Yemin Ezra Uzi's recent purchase of Delek Logistics Partners, LP (NYSE:DKL) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock is currently trading near its 52-week low, which may have presented an attractive entry point for the Executive Chairman. This timing is particularly interesting given that DKL pays a significant dividend to shareholders, with a current dividend yield of 11.28% as of the latest data.
InvestingPro Tips reveal that DKL has raised its dividend for 12 consecutive years, demonstrating a strong commitment to returning value to shareholders. This consistent dividend growth, coupled with the company's profitability over the last twelve months, suggests a stable financial foundation despite recent market fluctuations.
The company's P/E ratio of 13.64 indicates that the stock may be reasonably valued compared to its earnings. Additionally, with a market capitalization of $2 billion, DKL represents a substantial player in its sector.
For investors seeking more comprehensive analysis, InvestingPro offers 7 additional tips that could provide further insight into DKL's investment potential. These additional tips, available through the InvestingPro product, could be particularly valuable for those looking to understand the full context of Yemin's insider purchase and the company's overall financial health.
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