Several other research firms have also recently weighed in on MMLP. Stifel Nicolaus cut their price objective on Martin Midstream Partners from $19.00 to $17.00 and set a hold rating on the stock in a report on Thursday, October 26th. Zacks Investment Research cut Martin Midstream Partners from a strong-buy rating to a hold rating in a report on Friday, October 27th. BidaskClub upgraded Martin Midstream Partners from a strong sell rating to a sell rating in a report on Tuesday, December 12th. Finally, Royal Bank of Canada reiterated a hold rating and set a $18.00 price objective on shares of Martin Midstream Partners in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $19.33.
Martin Midstream Partners (NASDAQ MMLP) opened at $16.25 on Thursday. Martin Midstream Partners has a 1-year low of $12.70 and a 1-year high of $20.55. The company has a current ratio of 2.04, a quick ratio of 0.86 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $624.76, a PE ratio of 23.21 and a beta of 1.53.
Institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC acquired a new stake in Martin Midstream Partners in the 4th quarter valued at approximately $167,000. The Manufacturers Life Insurance Company raised its position in Martin Midstream Partners by 192.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock valued at $167,000 after buying an additional 6,280 shares during the last quarter. Bell & Brown Wealth Advisors LLC acquired a new stake in Martin Midstream Partners in the 4th quarter valued at approximately $235,000. Geode Capital Management LLC raised its position in Martin Midstream Partners by 28.1% in the 4th quarter. Geode Capital Management LLC now owns 24,013 shares of the pipeline company’s stock valued at $336,000 after buying an additional 5,267 shares during the last quarter. Finally, Albert D Mason Inc. raised its position in Martin Midstream Partners by 93.8% in the 4th quarter. Albert D Mason Inc. now owns 29,501 shares of the pipeline company’s stock valued at $413,000 after buying an additional 14,278 shares during the last quarter. 30.21% of the stock is currently owned by institutional investors and hedge funds.
About Martin Midstream Partners
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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