Martin Midstream Partners L.P. Price Target Lowered to $44.00 at RBC Capital (MMLP)
Equities research analysts at RBC Capital reduced their target price on shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) from $48.00 to $44.00 in a research note issued to investors on Friday. RBC Capital’s price objective points to a potential upside of 11.85% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Martin Midstream Partners L.P. from a “neutral” rating to an “outperform” rating in a research note on Friday. They now have a $45.20 price target on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.70.
Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) traded up 0.25% on Friday, hitting $39.34. The stock had a trading volume of 128,859 shares. Martin Midstream Partners L.P. has a 1-year low of $38.77 and a 1-year high of $48.90. The stock has a 50-day moving average of $40.85 and a 200-day moving average of $41.85. The company’s market cap is $1.138 billion.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.03. On average, analysts predict that Martin Midstream Partners L.P. will post $1.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.7925 per share. This represents a $3.17 annualized dividend and a dividend yield of 8.06%. The ex-dividend date is Tuesday, August 5th. This is a positive change 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.
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