BRENTWOOD, Tenn.—Yemin Ezra Uzi, CEO of Delek Logistics Partners, LP (NYSE 🙂), 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, which is equivalent to a Total transaction value approximately $27,500.
Following this transaction, Yemin directly owns 54,851.268 shares. Additionally, through indirect ownership through Yemin Investments, LP, it owns 158,467 shares. This acquisition reflects Yemin’s continued investment in Delek Logistics, a company dedicated to the energy and transportation sector.
In other recent news, Delek Logistics Partners reported a record third quarter, with adjusted EBITDA of approximately $107 million. This historic performance is attributed to the company’s strategic transactions, which have strengthened its presence in the prolific Permian Basin. The company anticipates continued strong performance in the future, although 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 $46.00 previously, while maintaining a Buy rating on the stock. This adjustment is based on the company’s recent completion of several strategic transactions and strong organic activities throughout the quarter.
Furthermore, the firm’s analyst noted that Delek Logistics has become a more comprehensive entity with a better market presence and operational prospects. A significant increase is also anticipated for Delek Logistics units with the upcoming rebalancing of the Alerian MLP ETF, due to the departure of several existing members and others who maintain a substantial weighting. These are the recent developments for Delek Logistics Partners.
InvestingPro Insights
Yemin Ezra Uzi’s recent purchase of shares of Delek Logistics Partners, LP (NYSE:DKL) aligns with several positive indicators highlighted by InvestingPro. The company’s shares are currently trading near their 52-week low, which may have presented an attractive entry point for the CEO. This timing is particularly interesting given that DKL pays a significant dividend to shareholders, with a current dividend yield of 11.28% according to the latest data.
InvestingPro advice reveals that DKL has increased 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 past 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 fairly valued compared to its earnings. Furthermore, with a market capitalization of $2 billion, DKL represents a major player in its sector.
For investors looking for a more comprehensive analysis, InvestingPro offers 7 additional tips that could provide more insight into DKL’s investment potential. These additional tips, available through the InvestingPro product, could be particularly valuable to those seeking to understand the full context of Yemin’s insider buying and the company’s overall financial health.
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