Jeffrey Brown, Vice President of US Alliance Corp (OTC:USAC), recently acquired 6,000 shares of restricted common stock at a price of $1 per share, totaling $6,000. The company, currently valued at $2.66 billion, has shown strong financial performance with a notable 9.37% dividend yield that has been maintained for seven consecutive years, according to InvestingPro data. This transaction took place on December 17, 2024, and increased Brown’s total holdings to 76,000 shares. The purchase reflects a direct ownership interest in the company. With analyst price targets ranging from $23 to $27 and expected net income growth this year, investors can access more detailed analysis and 12 additional ProTips through InvestingPro’s comprehensive research reports.
In other recent news, USA Compression (NYSE:) Partners announced record results for the third quarter of 2024. The company reported a 2% sequential increase in total revenue and an 11% rise year-over-year, with net income reaching $19.3 million. Notably, these figures were attributed to record average pricing for their services. The company’s strategy for continued growth includes increased capital expenditures and the implementation of the Energy Transfer (NYSE:) Shared Services Model.
In addition to these financial highlights, USA Compression Partners confirmed the appointment of a new CFO, Chris Paulsen, set to join the team on November 18, 2024. The company also increased its capital expenditures for 2024 to $240-250 million, primarily for redeployment and activation of compression units. CEO Clint Green discussed the potential impact of the U.S. election on technology and industry demand, expecting ongoing demand for compression services and potential growth opportunities.
However, the company also reported an unexpected increase in capital expenditures due to equipment needing more rework than budgeted. Despite this, strong demand in the compression market is anticipated to continue, and capital investments are expected to align with the company’s financial criteria. These recent developments underscore USA Compression Partners’ commitment to strategic growth and operational efficiency.
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