Martin Midstream Partners L.P. Given Average Rating of “Buy” by Brokerages (NASDAQ:MMLP)
Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) have earned an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock, AmericanBankingNews.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $50.70.
A number of analysts have recently weighed in on MMLP shares. 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, August 1st. 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, August 1st. 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, August 1st. They now have a $45.20 price target on the stock.
Martin Midstream Partners L.P. (NASDAQ:MMLP) opened at 36.44 on Monday. Martin Midstream Partners L.P. has a 52 week low of $36.31 and a 52 week high of $48.90. The stock has a 50-day moving average of $40.52 and a 200-day moving average of $41.70. The company’s market cap is $1.116 billion.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its quarterly 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. On average, analysts predict that Martin Midstream Partners L.P. will post $1.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders 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 8.70%. The ex-dividend date of this dividend 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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