Martin Midstream Partners (MMLP) Lifted to Buy at BidaskClub

Martin Midstream Partners (NASDAQ:MMLP) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

MMLP has been the topic of a number of other reports. Zacks Investment Research lowered shares of Martin Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Martin Midstream Partners in a research report on Friday, October 27th. B. Riley set a $18.00 price objective on shares of Martin Midstream Partners and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, Stifel Nicolaus lowered their price objective 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Martin Midstream Partners presently has an average rating of “Hold” and an average price target of $19.33.

Martin Midstream Partners (MMLP) traded up $0.20 on Friday, hitting $16.80. 160,420 shares of the company were exchanged, compared to its average volume of 209,811. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.04 and a quick ratio of 0.86. Martin Midstream Partners has a one year low of $12.70 and a one year high of $20.90. The company has a market capitalization of $653.69, a price-to-earnings ratio of 36.52 and a beta of 1.49.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.11). Martin Midstream Partners had a net margin of 1.84% and a return on equity of 7.84%. The firm had revenue of $193.13 million for the quarter, compared to the consensus estimate of $185.42 million. analysts predict that Martin Midstream Partners will post 0.34 earnings per share for the current year.

In related news, CFO Robert D. Bondurant acquired 2,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $13.58 per share, with a total value of $27,160.00. Following the completion of the transaction, the chief financial officer now owns 39,314 shares in the company, valued at approximately $533,884.12. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ruben S. Martin bought 5,000 shares of Martin Midstream Partners stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average price of $13.61 per share, with a total value of $68,050.00. Following the purchase, the insider now directly 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 ninety days, insiders acquired 9,603 shares of company stock worth $133,053. Insiders own 17.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of Martin Midstream Partners by 192.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 6,280 shares in the last quarter. CNH Partners LLC increased its stake in shares of Martin Midstream Partners by 62.3% in the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock worth $535,000 after purchasing an additional 11,700 shares in the last quarter. Sippican Capital Advisors increased its stake in shares of Martin Midstream Partners by 12.4% in the fourth quarter. Sippican Capital Advisors now owns 32,520 shares of the pipeline company’s stock worth $455,000 after purchasing an additional 3,600 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Martin Midstream Partners by 1.9% in the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after purchasing an additional 602 shares in the last quarter. Finally, Arrow Investment Advisors LLC increased its stake in shares of Martin Midstream Partners by 14.9% in the third quarter. Arrow Investment Advisors LLC now owns 41,684 shares of the pipeline company’s stock worth $648,000 after purchasing an additional 5,393 shares in the last quarter. Hedge funds and other institutional investors own 30.39% of the company’s stock.

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About Martin Midstream Partners

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.

Analyst Recommendations for Martin Midstream Partners (NASDAQ:MMLP)

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