BidaskClub Upgrades Martin Midstream Partners (MMLP) to Buy

BidaskClub upgraded shares of Martin Midstream Partners (NASDAQ:MMLP) from a hold rating to a buy rating in a research report released on Friday.

MMLP has been the topic of a number of other research reports. Zacks Investment Research cut shares of Martin Midstream Partners from a hold rating to a strong sell rating in a report on Wednesday, September 26th. ValuEngine raised shares of Martin Midstream Partners from a strong sell rating to a sell rating in a report on Monday, October 22nd. Finally, Royal Bank of Canada reissued a hold rating and set a $17.00 price objective on shares of Martin Midstream Partners in a report on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $16.00.

MMLP stock opened at $12.63 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.03 and a current ratio of 2.28. Martin Midstream Partners has a twelve month low of $10.65 and a twelve month high of $16.95. The company has a market cap of $474.68 million, a price-to-earnings ratio of 28.70, a P/E/G ratio of 18.24 and a beta of 1.50.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, October 24th. The pipeline company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.18). Martin Midstream Partners had a return on equity of 5.03% and a net margin of 6.19%. The company had revenue of $219.05 million for the quarter, compared to analyst estimates of $226.83 million. As a group, analysts predict that Martin Midstream Partners will post 0.33 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $2.00 dividend on an annualized basis and a yield of 15.84%. Martin Midstream Partners’s payout ratio is currently 454.55%.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can acquired a new stake in Martin Midstream Partners during the third quarter worth approximately $449,000. California Public Employees Retirement System increased its holdings in shares of 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 during the period. PVG Asset Management Corp increased its holdings in shares of Martin Midstream Partners by 35.8% in the 2nd quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock valued at $633,000 after acquiring an additional 12,100 shares during the period. Bank of America Corp DE increased its holdings in shares of 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 during the period. Finally, OppenheimerFunds Inc. increased its holdings in shares of Martin Midstream Partners by 1.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,546,670 shares of the pipeline company’s stock valued at $90,345,000 after acquiring an additional 101,718 shares during the period. 28.89% of the stock is currently owned by 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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Analyst Recommendations for Martin Midstream Partners (NASDAQ:MMLP)

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