Martin Midstream Partners L.P. Upgraded by Zacks to Outperform (MMLP)
Martin Midstream Partners L.P. (NASDAQ:MMLP) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Friday. The firm currently has a $45.20 price objective on the stock. Zacks‘s price objective suggests a potential upside of 14.90% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.70.
Martin Midstream Partners L.P. (NASDAQ:MMLP) opened at 39.34 on Friday. 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 posted its quarterly earnings results 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. Analysts expect that Martin Midstream Partners L.P. will post $1.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders 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 boost 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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