Martin Midstream Partners (MMLP) Given a $18.00 Price Target at B. Riley

B. Riley set a $18.00 price target on Martin Midstream Partners (NASDAQ:MMLP) in a research report released on Wednesday morning. The firm currently has a buy rating on the pipeline company’s stock.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada restated a hold rating and set a $18.00 price objective on shares of Martin Midstream Partners in a research report on Friday, October 27th. Zacks Investment Research lowered shares of Martin Midstream Partners from a strong-buy rating to a hold rating in a research report on Friday, October 27th. Stifel Nicolaus reduced their price objective on shares of Martin Midstream Partners from $19.00 to $17.00 and set a hold rating for the company in a research report on Thursday, October 26th. Finally, BidaskClub upgraded shares of Martin Midstream Partners from a strong sell rating to a sell rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Martin Midstream Partners presently has an average rating of Hold and a consensus target price of $19.33.

Martin Midstream Partners (NASDAQ:MMLP) traded down $0.10 during trading hours on Wednesday, hitting $14.55. 75,524 shares of the stock traded hands, compared to its average volume of 238,270. Martin Midstream Partners has a one year low of $12.70 and a one year high of $20.90. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04. The company has a market cap of $559.40, a price-to-earnings ratio of 31.63 and a beta of 1.49.

In related news, insider Ruben S. Martin purchased 5,000 shares of Martin Midstream Partners stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average cost of $13.61 per share, with a total value of $68,050.00. Following the completion of the transaction, the insider now directly owns 140,598 shares of the company’s stock, valued at $1,913,538.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert D. Bondurant purchased 2,000 shares of Martin Midstream Partners stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $13.58 per share, with a total value of $27,160.00. Following the completion of the transaction, the chief financial officer now directly owns 39,314 shares of the company’s stock, valued at $533,884.12. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 8,079 shares of company stock valued at $110,178. Corporate insiders own 17.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Martin Midstream Partners 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 purchasing an additional 6,280 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Martin Midstream Partners 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 purchasing an additional 1,754 shares in the last quarter. CNH Partners LLC lifted its position in shares of Martin Midstream Partners by 62.3% in the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock worth $535,000 after purchasing an additional 11,700 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Martin Midstream Partners by 1.9% in the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after purchasing an additional 602 shares in the last quarter. Finally, Arrow Investment Advisors LLC lifted its position in shares of Martin Midstream Partners by 14.9% in the third quarter. Arrow Investment Advisors LLC now owns 41,684 shares of the pipeline company’s stock worth $648,000 after purchasing an additional 5,393 shares in the last quarter. 31.17% of the stock is owned by institutional investors and hedge funds.

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Martin Midstream Partners Company Profile

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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