Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) have been given an average recommendation of “Hold” by the eight brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $16.20.
Several research firms recently weighed in on MMLP. BidaskClub cut Martin Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 22nd. Zacks Investment Research raised Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report 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 for the company in a report on Friday, October 26th. Finally, ValuEngine raised Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 1st.
NASDAQ:MMLP traded down $0.35 during mid-day trading on Monday, hitting $10.61. 114,339 shares of the stock were exchanged, compared to its average volume of 201,316. The stock has a market cap of $427.84 million, a P/E ratio of 24.11, a PEG ratio of 48.71 and a beta of 1.05. The company has a current ratio of 2.28, a quick ratio of 1.03 and a debt-to-equity ratio of 2.45. Martin Midstream Partners has a fifty-two week low of $10.25 and a fifty-two week high of $16.95.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $2.00 annualized dividend and a yield of 18.85%. Martin Midstream Partners’s dividend payout ratio is presently 454.55%.
A number of hedge funds and other institutional investors have recently made changes to their positions in MMLP. Endurance Wealth Management Inc. raised its holdings in Martin Midstream Partners by 106.1% in the 2nd quarter. Endurance Wealth Management Inc. now owns 13,600 shares of the pipeline company’s stock valued at $188,000 after acquiring an additional 7,000 shares in the last quarter. Bank of America Corp DE raised its holdings in Martin Midstream Partners by 26.4% in the 2nd quarter. Bank of America Corp DE now owns 31,454 shares of the pipeline company’s stock valued at $434,000 after acquiring an additional 6,564 shares in the last quarter. Bank of Montreal Can acquired a new position in Martin Midstream Partners in the 3rd quarter valued at $449,000. ING Groep NV acquired a new position in Martin Midstream Partners in the 3rd quarter valued at $457,000. Finally, California Public Employees Retirement System raised its holdings in Martin Midstream Partners by 10.8% in the 2nd quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock valued at $597,000 after acquiring an additional 4,226 shares in the last quarter. 31.23% of the stock is owned by hedge funds and other institutional investors.
Martin Midstream Partners Company Profile
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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