Martin Midstream Partners (NASDAQ:MMLP) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
A number of other equities research analysts have also weighed in on MMLP. ValuEngine upgraded Martin Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, October 31st. Raymond James dropped their price target on Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Finally, Royal Bank of Canada restated a “hold” rating and set a $17.00 price target on shares of Martin Midstream Partners in a research note on Monday, July 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.83.
Martin Midstream Partners stock traded up $0.17 during trading hours on Thursday, reaching $12.52. The stock had a trading volume of 205,299 shares, compared to its average volume of 223,408. The company has a market capitalization of $487.95 million, a PE ratio of 28.45, a P/E/G ratio of 55.56 and a beta of 1.05. 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 $10.65 and a 52 week high of $16.95.
Hedge funds have recently modified their holdings of the company. Endurance Wealth Management Inc. boosted its position in Martin Midstream Partners by 106.1% in the second quarter. Endurance Wealth Management Inc. now owns 13,600 shares of the pipeline company’s stock valued at $188,000 after buying an additional 7,000 shares during the last quarter. Bank of America Corp DE boosted its position in Martin Midstream Partners by 26.4% in the second quarter. Bank of America Corp DE now owns 31,454 shares of the pipeline company’s stock valued at $434,000 after buying an additional 6,564 shares during the last quarter. Bank of Montreal Can purchased a new stake in Martin Midstream Partners in the third quarter valued at approximately $449,000. ING Groep NV purchased a new stake in Martin Midstream Partners in the third quarter valued at approximately $457,000. Finally, California Public Employees Retirement System boosted its position in Martin Midstream Partners by 10.8% in the second quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock valued at $597,000 after buying an additional 4,226 shares during the last quarter. Institutional investors and hedge funds own 28.91% of the company’s stock.
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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