Martin Midstream Partners L.P. Reaches New 12-Month Low at $38.77 (MMLP)
Martin Midstream Partners L.P. (NASDAQ:MMLP) hit a new 52-week low on Thursday , American Banking & Market News reports. The stock traded as low as $38.77 and last traded at $39.00, with a volume of 175,576 shares traded. The stock had previously closed at $40.35.
A number of research firms have recently commented on MMLP. Analysts at Robert W. Baird reiterated a “neutral” rating on shares of Martin Midstream Partners L.P. in a research note on Monday, May 19th. They now have a $43.00 price target on the stock, down previously from $45.00. Analysts at Wunderlich raised their price target on shares of Martin Midstream Partners L.P. from $76.00 to $85.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $52.20.
The stock has a 50-day moving average of $40.88 and a 200-day moving average of $41.88. The company’s market cap is $1.061 billion.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Thursday, August 7th will be given a dividend of $0.7925 per share. This represents a $3.17 dividend on an annualized basis and a yield of 8.08%. The ex-dividend date of this dividend is Tuesday, August 5th. This is an increase from Martin Midstream Partners L.P.’s previous quarterly dividend of $0.79.
Martin Midstream Partners L.P. is a limited partnership with a diverse set of operations focused in the United States Gulf Coast region.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.