Brentwood, Tenn. Yaman Ezra Uzzi, Executive Chairman of Delek Logistics Partners, LP (NYSE: ) recently acquired additional shares of the company. According to a Form 4 filed with the Securities and Exchange Commission, Yemen purchased 710 common units on November 14, 2024, representing a limited partner’s interest. About $27,500.
After this transaction, Yemen directly owns 54,851.268 shares. Additionally, through indirect ownership through Yemen Investments, LP, it owns 158,467 shares. The acquisition reflects Yemen’s continued investment in Delek Logistics, a company engaged in the energy and transportation sector.
In other recent news, Delek Logistics Partners reported a record-breaking third quarter, with adjusted EBITDA of nearly $107 million. This milestone performance is attributed to the company’s strategic transactions, which have strengthened its presence in the Permian Basin. The Company expects continued strong performance in the future, although it cautions that actual results may differ due to potential risks and uncertainties.
Meanwhile, Truist Securities adjusted their outlook on Delek Logistics Partners, maintaining a buy rating on the stock and raising the price target to $50.00 from the previous $46.00. This adjustment is based on the company’s recent completion of several strategic transactions and strong organic activity throughout the quarter.
Additionally, the firm’s analyst noted that Delek Logistics has become a more comprehensive entity with a better market presence and operational potential. A significant uptick in Delic Logistics units is also expected with the future rebalancing of the Ulrian MLP ETF, with several current members exiting and others maintaining substantial weighting. These are the latest developments for Dalek Logistics Partners.
InvestingPro Insights
Yaman Ezra Uzzi’s recent purchase of shares of Delek Logistics Partners, LP (NYSE:DKL) 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 as DKL pays a significant dividend to shareholders, with a current dividend yield of 11.28% according to the latest figures.
InvestingPro Tips shows that DKL has grown its dividend for 12 consecutive years, demonstrating a strong commitment to returning value to shareholders. This consistent dividend growth, combined with the company’s profitability over the past twelve months, suggests a stable financial base despite recent market fluctuations.
The company’s P/E ratio of 13.64 indicates that the stock may be reasonably valued relative to its earnings. Furthermore, with a market capitalization of $2 billion, DKL represents a significant player in its sector.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips that can provide further insight into DKL’s investment potential. These additional tips available through the InvestingPro product may be particularly valuable to those seeking to understand the full context of Yemen’s insider purchasing and the overall financial health of the company.
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