Yemin Ezra Uzi, Chairman of Delek Logistics Partners, LP (NYSE:DKL), recently acquired 3,750 common units of the company, amounting to a total value of $149,805. The shares were purchased at an average price of $39.948 per unit on December 16, 2024. The company currently offers an attractive 11% dividend yield and has maintained dividend payments for 12 consecutive years, according to InvestingPro data. Following this transaction, Uzi holds 162,217 shares indirectly through Yemin Investments, LP. This acquisition reflects Uzi's continued investment in the company, which operates in the energy and transportation sector. Trading at a P/E ratio of 14.3 and with a GOOD financial health score, InvestingPro analysis suggests the stock is currently fairly valued.
In other recent news, Delek Logistics Partners has been making significant strides with a record-breaking third quarter, reporting an adjusted EBITDA of approximately $107 million. This financial performance underlines the company's enhanced position in the Permian Basin, a result of strategic transactions. Truist Securities has recognized these achievements, raising the price target for Delek Logistics to $50, up from the previous $46, while maintaining a buy rating on the stock. The firm's analysts attribute this upgrade to Delek Logistics' successful completion of strategic deals and robust organic activities throughout the quarter. They also noted the company's potential to capitalize on the upcoming rebalancing of the Alerian MLP ETF. Despite the promising projections, Delek Logistics has advised that actual results may vary due to potential risks and uncertainties. These are the recent developments for Delek Logistics Partners, a company that continues to build on its premier position in the Permian Basin.
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