Royal Bank Of Canada Reaffirms Hold Rating for Martin Midstream Partners L.P. (MMLP)

Royal Bank Of Canada restated their hold rating on shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) in a research note issued to investors on Friday morning. The firm currently has a $18.00 price objective on the pipeline company’s stock.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Martin Midstream Partners L.P. from a buy rating to a hold rating in a research report on Wednesday, July 5th. BidaskClub lowered shares of Martin Midstream Partners L.P. from a hold rating to a sell rating in a research report on Wednesday, July 12th. Robert W. Baird reiterated a hold rating and issued a $20.00 price target on shares of Martin Midstream Partners L.P. in a research report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $20.00 price target on shares of Martin Midstream Partners L.P. in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Martin Midstream Partners L.P. presently has an average rating of Hold and a consensus target price of $19.60.

Shares of Martin Midstream Partners L.P. (MMLP) opened at 15.90 on Friday. The firm has a 50-day moving average of $16.54 and a 200 day moving average of $17.90. Martin Midstream Partners L.P. has a 1-year low of $15.45 and a 1-year high of $20.90. The stock has a market capitalization of $611.39 million, a PE ratio of 19.00 and a beta of 1.51.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 12.58%. The ex-dividend date is Monday, November 6th. Martin Midstream Partners L.P.’s dividend payout ratio (DPR) is presently 434.78%.

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of Martin Midstream Partners L.P. by 33.8% in the second quarter. Creative Planning now owns 5,893 shares of the pipeline company’s stock worth $104,000 after buying an additional 1,490 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Martin Midstream Partners L.P. by 192.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after buying an additional 6,280 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Martin Midstream Partners L.P. by 61.1% in the first quarter. Ameriprise Financial Inc. now owns 19,753 shares of the pipeline company’s stock worth $395,000 after buying an additional 7,493 shares in the last quarter. Sippican Capital Advisors lifted its holdings in shares of Martin Midstream Partners L.P. by 1.8% in the second quarter. Sippican Capital Advisors now owns 28,120 shares of the pipeline company’s stock worth $494,000 after buying an additional 500 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Martin Midstream Partners L.P. by 6.5% in the second quarter. Stephens Inc. AR now owns 28,733 shares of the pipeline company’s stock worth $504,000 after buying an additional 1,754 shares in the last quarter. 31.79% of the stock is currently owned by hedge funds and other institutional investors.

About Martin Midstream Partners L.P.

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

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