Martin Midstream Partners L.P. (MMLP) Given Consensus Rating of “Hold” by Analysts

Martin Midstream Partners L.P. (NASDAQ:MMLP) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $19.40.

Several analysts have recently commented on the stock. BidaskClub downgraded shares of Martin Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 30th. 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. Zacks Investment Research raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus reduced their price objective 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. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $18.00 price objective on shares of Martin Midstream Partners in a research report on Friday, October 27th.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Center Coast Capital Advisors LP grew its position in Martin Midstream Partners by 19.9% in 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 purchasing an additional 325,348 shares during the period. Goldman Sachs Group Inc. grew its position in Martin Midstream Partners by 20.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock valued at $8,116,000 after purchasing an additional 77,177 shares during the period. Adams Asset Advisors LLC grew its position in Martin Midstream Partners by 2.1% in the 3rd quarter. Adams Asset Advisors LLC now owns 294,961 shares of the pipeline company’s stock valued at $4,586,000 after purchasing an additional 6,024 shares during the period. Atlantic Trust Group LLC grew its position in Martin Midstream Partners by 9.2% in the 3rd quarter. Atlantic Trust Group LLC now owns 234,300 shares of the pipeline company’s stock valued at $3,643,000 after purchasing an additional 19,790 shares during the period. Finally, Advisors Capital Management LLC grew its position in Martin Midstream Partners by 1.7% in the 3rd quarter. Advisors Capital Management LLC now owns 182,231 shares of the pipeline company’s stock valued at $2,834,000 after purchasing an additional 3,035 shares during the period. 31.17% of the stock is owned by institutional investors and hedge funds.

Shares of Martin Midstream Partners (NASDAQ MMLP) traded down $0.10 during mid-day trading on Friday, hitting $14.55. 46,033 shares of the stock traded hands, compared to its average volume of 162,067. The firm has a market cap of $556.51, a P/E ratio of 31.63 and a beta of 1.49. Martin Midstream Partners has a one year low of $12.70 and a one year high of $20.90. The company has a current ratio of 2.04, a quick ratio of 0.86 and a debt-to-equity ratio of 2.78.

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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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