Martin Midstream Partners (NASDAQ:MMLP) Shares Up 9.1%

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.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, July 24th. The pipeline company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.40). The firm had revenue of $187.32 million during the quarter, compared to the consensus estimate of $181.97 million. Martin Midstream Partners had a negative net margin of 18.38% and a negative return on equity of 15.28%. As a group, equities research analysts predict that Martin Midstream Partners L.P. will post -0.08 EPS for the current fiscal year.

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.

Featured Article: How much can an individual set aside as a catch-up contribution?

Receive News & Ratings for Martin Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit