2024-06-07 07:21:20 ET
Summary
- Delek Logistics provides steady distributions with a dividend yield of around 10% and reliable cash flows.
- The partnership benefits from long-term fee-based contracts and minimum volume commitments, protecting it from market volatility.
- Financials are improving, with strong net income, EBITDA, and distributable cash flow, and potential for future growth through new assets and acquisitions.
- Shares are a buy with price target of $40.
Investment Thesis
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Delek Logistics: Distributions Seem Well Covered