Martin Midstream Partners (MMLP) Given a $18.00 Price Target at B. Riley

Martin Midstream Partners (NASDAQ:MMLP) has been assigned a $18.00 price target by B. Riley in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the pipeline company’s stock. B. Riley’s target price suggests a potential upside of 22.45% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub cut shares of Martin Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 target price on shares of Martin Midstream Partners in a research report on Friday, October 27th. Finally, Stifel Nicolaus dropped their target price on shares of Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating for the company 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 given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.33.

Shares of Martin Midstream Partners (MMLP) traded up $0.20 during trading on Wednesday, reaching $14.70. 234,405 shares of the company’s stock were exchanged, compared to its average volume of 188,100. The company has a market cap of $565.17, a price-to-earnings ratio of 31.96 and a beta of 1.49. Martin Midstream Partners has a 1-year low of $12.70 and a 1-year high of $20.90. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04.

In other Martin Midstream Partners news, insider Ruben S. Martin purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average cost of $13.61 per share, with a total value of $68,050.00. Following the transaction, the insider now directly owns 140,598 shares in the company, valued at approximately $1,913,538.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert D. Bondurant purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost 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 $533,884.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 8,079 shares of company stock valued at $110,178. Corporate insiders own 17.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MMLP. Center Coast Capital Advisors LP lifted its position in Martin Midstream Partners by 19.9% during the 3rd quarter. Center Coast Capital Advisors LP now owns 1,959,445 shares of the pipeline company’s stock valued at $30,469,000 after acquiring an additional 325,348 shares during the period. Goldman Sachs Group Inc. lifted its position in Martin Midstream Partners by 20.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock valued at $8,116,000 after acquiring an additional 77,177 shares during the period. Atlantic Trust Group LLC lifted its position in Martin Midstream Partners by 9.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 234,300 shares of the pipeline company’s stock valued at $3,643,000 after acquiring an additional 19,790 shares during the period. CNH Partners LLC lifted its position in Martin Midstream Partners by 62.3% during the 2nd quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock valued at $535,000 after acquiring an additional 11,700 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Martin Midstream Partners by 192.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock valued at $167,000 after acquiring an additional 6,280 shares during the period. 31.17% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Martin Midstream Partners (NASDAQ:MMLP)

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