Martin Midstream Partners (MMLP) Upgraded at BidaskClub

Martin Midstream Partners (NASDAQ:MMLP) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday, November 2nd.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Martin Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. ValuEngine upgraded shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Raymond James lowered their target price on shares of Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $17.00 target price on shares of Martin Midstream Partners in a report on Monday, July 16th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Martin Midstream Partners currently has a consensus rating of “Hold” and an average price target of $15.83.

MMLP traded up $0.17 during midday trading on Friday, reaching $12.52. 205,299 shares of the company’s stock were exchanged, compared to its average volume of 223,408. The company has a current ratio of 2.28, a quick ratio of 1.03 and a debt-to-equity ratio of 2.45. The stock has a market cap of $487.95 million, a P/E ratio of 28.45, a PEG ratio of 55.56 and a beta of 1.05. Martin Midstream Partners has a 1-year low of $10.65 and a 1-year high of $16.95.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, October 24th. The pipeline company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.18). The business had revenue of $219.05 million for the quarter, compared to analyst estimates of $226.83 million. Martin Midstream Partners had a return on equity of 5.03% and a net margin of 6.19%. As a group, analysts forecast 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 stock. OppenheimerFunds Inc. raised its holdings in shares of Martin Midstream Partners by 1.6% during the second quarter. OppenheimerFunds Inc. now owns 6,546,670 shares of the pipeline company’s stock worth $90,345,000 after purchasing an additional 101,718 shares during the period. GSA Capital Partners LLP grew its position in shares of Martin Midstream Partners by 198.2% during the second quarter. GSA Capital Partners LLP now owns 107,965 shares of the pipeline company’s stock worth $1,490,000 after acquiring an additional 71,765 shares during the last quarter. Rational Advisors LLC grew its position in shares of Martin Midstream Partners by 38.8% during the third quarter. Rational Advisors LLC now owns 63,710 shares of the pipeline company’s stock worth $739,000 after acquiring an additional 17,810 shares during the last quarter. PVG Asset Management Corp grew its position in shares of Martin Midstream Partners by 35.8% during the second quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock worth $633,000 after acquiring an additional 12,100 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Martin Midstream Partners by 10.8% during the second quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock worth $597,000 after acquiring an additional 4,226 shares during the last quarter. 28.91% of the stock is currently owned by hedge funds and other institutional investors.

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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