Martin Midstream Partners L.P. (NASDAQ:MMLP)’s share price was up 9.1% on Tuesday . The stock traded as high as $4.46 and last traded at $4.43, approximately 355,016 shares changed hands during mid-day trading. An increase of 49% from the average daily volume of 238,954 shares. The stock had previously closed at $4.06.
Several analysts recently weighed in on MMLP shares. ValuEngine raised Martin Midstream Partners from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, BidaskClub raised Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Martin Midstream Partners currently has a consensus rating of “Buy” and a consensus target price of $14.50.
The company has a debt-to-equity ratio of 2.31, a current ratio of 1.80 and a quick ratio of 1.07. The stock has a market capitalization of $157.77 million, a P/E ratio of -23.32 and a beta of 1.24. The company has a fifty day moving average of $4.25 and a two-hundred day moving average of $6.30.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 22.57%. The ex-dividend date is Wednesday, November 6th. Martin Midstream Partners’s dividend payout ratio is currently -526.32%.
A number of institutional investors have recently made changes to their positions in MMLP. BNP Paribas Arbitrage SA grew its holdings in shares of Martin Midstream Partners by 55,900.0% during the second quarter. BNP Paribas Arbitrage SA now owns 7,840 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 7,826 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Martin Midstream Partners during the second quarter valued at approximately $109,000. Huntington National Bank bought a new position in shares of Martin Midstream Partners during the second quarter valued at approximately $129,000. Wells Fargo & Company MN grew its holdings in shares of Martin Midstream Partners by 25.4% during the second quarter. Wells Fargo & Company MN now owns 24,716 shares of the pipeline company’s stock valued at $176,000 after purchasing an additional 5,001 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Martin Midstream Partners during the second quarter valued at approximately $651,000. 27.91% of the stock is owned by hedge funds and other institutional investors.
About Martin Midstream Partners (NASDAQ:MMLP)
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.
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