Martin Midstream Partners L.P. (MMLP) Given Average Recommendation of “Hold” by Brokerages
Martin Midstream Partners L.P. (NASDAQ:MMLP) has received an average rating of “Hold” from the eight brokerages that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.50.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd. Janney Montgomery Scott assumed coverage on shares of Martin Midstream Partners L.P. in a research report on Friday, September 16th. They set a “neutral” rating and a $22.00 price target for the company. Finally, FBR & Co dropped their price target on shares of Martin Midstream Partners L.P. from $27.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, October 28th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in shares of Martin Midstream Partners L.P. by 559.8% in the second quarter. IFP Advisors Inc now owns 4,777 shares of the company’s stock worth $110,000 after buying an additional 4,053 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Martin Midstream Partners L.P. by 4.1% in the second quarter. Acrospire Investment Management LLC now owns 5,096 shares of the company’s stock worth $118,000 after buying an additional 200 shares during the period. Global X Management Co. LLC boosted its position in shares of Martin Midstream Partners L.P. by 9.0% in the second quarter. Global X Management Co. LLC now owns 8,567 shares of the company’s stock worth $198,000 after buying an additional 704 shares during the period. Ausdal Financial Partners Inc. acquired a new position in shares of Martin Midstream Partners L.P. during the second quarter worth $214,000. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of Martin Midstream Partners L.P. by 10.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 9,422 shares of the company’s stock worth $218,000 after buying an additional 904 shares during the period.
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Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) traded down 3.5816% during midday trading on Monday, hitting $16.7768. 52,373 shares of the stock traded hands. Martin Midstream Partners L.P. has a 52-week low of $13.27 and a 52-week high of $26.50. The stock has a 50-day moving average of $18.88 and a 200-day moving average of $20.99. The company has a market cap of $594.80 million, a price-to-earnings ratio of 69.9033 and a beta of 1.31.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, October 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.06. The company had revenue of $174.54 million for the quarter, compared to analysts’ expectations of $207.11 million. During the same period in the prior year, the firm posted ($0.02) EPS. The company’s revenue was down 22.8% compared to the same quarter last year. On average, equities analysts predict that Martin Midstream Partners L.P. will post $0.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.49%. The ex-dividend date was Thursday, November 3rd.
About Martin Midstream Partners L.P.
Martin Midstream Partners L.P. is a limited partnership company with operations focused in the United States Gulf Coast region. The Company’s segments include Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Company owns or operates approximately 30 marine shore-based terminal facilities and over 20 specialty terminal facilities located in the United States.
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