Martin Midstream Partners L.P. (NASDAQ:MMLP) Receives $16.00 Consensus Target Price from Analysts

Martin Midstream Partners L.P. (NASDAQ:MMLP) has been given a consensus recommendation of “Hold” by the six analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.00.

A number of equities analysts have recently issued reports on MMLP shares. BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. TheStreet downgraded Trinity Industries from a “b” rating to a “c” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th.

Martin Midstream Partners stock traded down $0.06 during mid-day trading on Tuesday, reaching $7.05. 134,200 shares of the company were exchanged, compared to its average volume of 247,545. Martin Midstream Partners has a twelve month low of $6.03 and a twelve month high of $14.32. The stock has a 50-day moving average price of $6.78. The company has a current ratio of 0.36, a quick ratio of 0.22 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $279.30 million, a price-to-earnings ratio of -37.11, a PEG ratio of 6.58 and a beta of 1.09.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, April 24th. The pipeline company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.31). Martin Midstream Partners had a negative return on equity of 10.10% and a net margin of 2.78%. The company had revenue of $250.97 million for the quarter, compared to analyst estimates of $276.53 million. Sell-side analysts predict that Martin Midstream Partners will post 0.54 EPS for the current fiscal year.

In other news, CFO Robert D. Bondurant acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $6.67 per share, with a total value of $66,700.00. Following the purchase, the chief financial officer now directly owns 78,101 shares of the company’s stock, valued at approximately $520,933.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chris H. Booth acquired 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $6.75 per share, with a total value of $64,125.00. Following the completion of the purchase, the vice president now directly owns 25,803 shares in the company, valued at $174,170.25. The disclosure for this purchase can be found here. Insiders purchased a total of 44,285 shares of company stock valued at $306,465 over the last ninety days. 17.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMLP. Jane Street Group LLC purchased a new position in Martin Midstream Partners in the 4th quarter valued at approximately $109,000. Barclays PLC increased its position in Martin Midstream Partners by 124.5% during the fourth quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock worth $156,000 after buying an additional 8,408 shares in the last quarter. Sippican Capital Advisors purchased a new position in Martin Midstream Partners during the first quarter worth $189,000. Virtu Financial LLC purchased a new position in Martin Midstream Partners during the first quarter worth $418,000. Finally, Geode Capital Management LLC increased its position in Martin Midstream Partners by 97.1% during the fourth quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock worth $457,000 after buying an additional 21,909 shares in the last quarter. 27.24% of the stock is 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 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

Recommended Story: Why is Cost of Capital Important?

Receive News & Ratings for Martin Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.