Martin Midstream Partners (MMLP) Downgraded by BidaskClub

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.

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

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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Analyst Recommendations for Martin Midstream Partners (NASDAQ:MMLP)

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