Martin Midstream Partners L.P. Receives Average Recommendation of “Buy” from Analysts (NASDAQ:MMLP)
Martin Midstream Partners L.P. (NASDAQ:MMLP) has earned an average recommendation of “Buy” from the eight brokerages that are covering the company, AnalystRatingsNetwork.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $50.70.
MMLP has been the subject of a number of recent research reports. Analysts at Raymond James cut their price target on shares of Martin Midstream Partners L.P. from $45.00 to $43.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Martin Midstream Partners L.P. from $48.00 to $44.00 in a research note on Friday. Finally, 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.
Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) traded up 0.15% during mid-day trading on Monday, hitting $39.40. The stock had a trading volume of 25,424 shares. Martin Midstream Partners L.P. has a 52-week low of $38.77 and a 52-week 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 $1.065 billion.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last released its earnings data on Friday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. Analysts expect that Martin Midstream Partners L.P. will post $1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors 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 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.
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