BRENTWOOD, Tenn.—Soreq Avigal, President of Delek Logistics Partners, LP (NYSE:DKL), recently acquired 375 common units of the company, according to a recent SEC filing. The purchase, made on December 16, 2024, amounted to a total of $14,880 at a price of $39.68 per share. Following this transaction, Avigal's direct ownership in the company increased to 45,537 shares. The insider purchase comes as InvestingPro data shows DKL trading near its Fair Value, with the company maintaining a notable 11% dividend yield and a Good financial health score.
Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, operates in the pipeline industry, excluding natural gas. With a market capitalization of $2.06 billion and a P/E ratio of 14, the company has maintained dividend payments for 12 consecutive years. InvestingPro subscribers can access 7 additional ProTips and a comprehensive Pro Research Report for deeper analysis of DKL's performance and prospects.
In other recent news, Delek Logistics Partners has reported record-breaking third-quarter results with an adjusted EBITDA of approximately $107 million. This performance underscores the company's strengthened position in the Permian Basin, achieved through strategic transactions. Truist Securities has expressed a positive stance on Delek Logistics' ability to enhance its higher-margin third-party business and increased the price target to $50.00 from $46.00, while retaining a Buy rating on the stock. The analyst highlighted Delek Logistics' recent completion of several strategic transactions and robust organic activities throughout the quarter. The firm anticipates that Delek Logistics' units may experience a significant uplift with the upcoming rebalancing of the Alerian MLP ETF. However, they caution that actual results may vary due to potential risks and uncertainties. These are the latest developments for Delek Logistics Partners, a company that continues to solidify its premier position in the Permian Basin. The company's robust financial position is a testament to its strategic initiatives.
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