Martin Midstream Partners (MMLP) Boosted to “Hold” at BidaskClub

Martin Midstream Partners (MMLP) Boosted  to “Hold” at BidaskClub

Martin Midstream Partners (NASDAQ:MMLP) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.

Several other brokerages have also issued reports on MMLP. ValuEngine raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research raised shares of Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, October 31st. Finally, Raymond James lowered their target price on shares of Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.83.

Shares of Martin Midstream Partners stock opened at $11.61 on Friday. The firm has a market capitalization of $434.47 million, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 49.47 and a beta of 1.03. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.03 and a current ratio of 2.28. Martin Midstream Partners has a 52-week low of $10.25 and a 52-week high of $16.95.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, October 24th. The pipeline company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.18). The business had revenue of $219.05 million during the quarter, compared to the consensus estimate of $226.83 million. Martin Midstream Partners had a net margin of 6.19% and a return on equity of 5.03%. Analysts expect that Martin Midstream Partners will post 0.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP grew its holdings in shares of Martin Midstream Partners by 198.2% in the 2nd quarter. GSA Capital Partners LLP now owns 107,965 shares of the pipeline company’s stock worth $1,490,000 after purchasing an additional 71,765 shares during the last quarter. PVG Asset Management Corp grew its holdings in shares of Martin Midstream Partners by 35.8% in the 2nd quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock worth $633,000 after purchasing an additional 12,100 shares during the last quarter. Rational Advisors LLC grew its holdings in shares of Martin Midstream Partners by 38.8% in the 3rd quarter. Rational Advisors LLC now owns 63,710 shares of the pipeline company’s stock worth $739,000 after purchasing an additional 17,810 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Martin Midstream Partners in the 3rd quarter worth about $449,000. Finally, California Public Employees Retirement System grew its holdings in shares of Martin Midstream Partners by 10.8% in the 2nd quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock worth $597,000 after purchasing an additional 4,226 shares during the last quarter. 27.86% of the stock is currently owned by institutional investors and hedge funds.

About Martin Midstream Partners

Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 22 marine shore-based terminal facilities and 16 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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