Martin Midstream Partners (MMLP) Upgraded at Zacks Investment Research

Martin Midstream Partners (NASDAQ:MMLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Martin Midstream is a limited partnership which stores and transports hydrocarbon products and specialty chemicals, primarily in the Gulf Coast. It runs a marine transportation business, mostly barges and tugs, and operates storage tanks. “

Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Martin Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday. B. Riley reaffirmed a “buy” rating and set a $18.00 price target on shares of Martin Midstream Partners in a research report on Monday, December 18th. Royal Bank of Canada reaffirmed a “hold” rating and set a $18.00 price target on shares of Martin Midstream Partners in a research report on Friday, October 27th. Finally, Stifel Nicolaus reduced their price target on shares of Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.33.

Shares of Martin Midstream Partners (MMLP) traded up $0.50 during mid-day trading on Wednesday, hitting $14.50. 141,800 shares of the stock traded hands, compared to its average volume of 219,300. The company has a quick ratio of 0.86, a current ratio of 2.04 and a debt-to-equity ratio of 2.78. Martin Midstream Partners has a twelve month low of $12.70 and a twelve month high of $20.90. The company has a market capitalization of $557.48, a PE ratio of 31.52 and a beta of 1.49.

In other Martin Midstream Partners news, CFO Robert D. Bondurant acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average price of $13.58 per share, for a total transaction of $27,160.00. Following the completion of the purchase, the chief financial officer now directly owns 39,314 shares in the company, valued at $533,884.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ruben S. Martin acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average price of $13.61 per share, for a total transaction of $68,050.00. Following the purchase, the insider now owns 140,598 shares of the company’s stock, valued at $1,913,538.78. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 8,079 shares of company stock worth $110,178. 17.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in Martin Midstream Partners by 192.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 6,280 shares during the period. Stephens Inc. AR raised its stake in Martin Midstream Partners by 6.5% during the second quarter. Stephens Inc. AR now owns 28,733 shares of the pipeline company’s stock worth $504,000 after acquiring an additional 1,754 shares during the period. CNH Partners LLC raised its stake in Martin Midstream Partners by 62.3% during the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock worth $535,000 after acquiring an additional 11,700 shares during the period. Royal Bank of Canada raised its stake in Martin Midstream Partners by 1.9% during the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after acquiring an additional 602 shares during the period. Finally, Arrow Investment Advisors LLC raised its stake in Martin Midstream Partners by 14.9% during the third quarter. Arrow Investment Advisors LLC now owns 41,684 shares of the pipeline company’s stock worth $648,000 after acquiring an additional 5,393 shares during the period. Hedge funds and other institutional investors own 31.17% of the company’s stock.

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Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

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