BidaskClub Upgrades Martin Midstream Partners (MMLP) to Strong-Buy

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

Several other equities analysts also recently issued reports on MMLP. Royal Bank of Canada reaffirmed a “hold” rating and set a $17.00 price objective on shares of Martin Midstream Partners in a report on Monday, July 16th. Zacks Investment Research downgraded shares of Martin Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine raised shares of Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Monday, October 22nd. Finally, Raymond James decreased their price objective on shares of Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Martin Midstream Partners currently has an average rating of “Buy” and a consensus target price of $15.83.

MMLP stock traded down $0.18 during midday trading on Friday, hitting $13.34. 285,958 shares of the stock traded hands, compared to its average volume of 181,134. The firm has a market cap of $520.74 million, a PE ratio of 30.32, a P/E/G ratio of 59.29 and a beta of 1.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.03 and a current ratio of 2.28. Martin Midstream Partners has a 1-year low of $10.65 and a 1-year high of $16.95.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, October 24th. The pipeline company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.18). The firm had revenue of $219.05 million for the quarter, compared to analyst estimates of $226.83 million. Martin Midstream Partners had a net margin of 6.19% and a return on equity of 5.03%. Research analysts predict that Martin Midstream Partners will post 0.11 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. OppenheimerFunds Inc. lifted its stake in shares of Martin Midstream Partners by 1.6% in the second quarter. OppenheimerFunds Inc. now owns 6,546,670 shares of the pipeline company’s stock worth $90,345,000 after buying an additional 101,718 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Martin Midstream Partners by 198.2% in the second quarter. GSA Capital Partners LLP now owns 107,965 shares of the pipeline company’s stock worth $1,490,000 after buying an additional 71,765 shares in the last quarter. Rational Advisors LLC lifted its stake in shares of Martin Midstream Partners by 35.8% in the second quarter. Rational Advisors LLC now owns 45,900 shares of the pipeline company’s stock worth $633,000 after buying an additional 12,100 shares in the last quarter. PVG Asset Management Corp lifted its stake in shares of Martin Midstream Partners by 35.8% in the second quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock worth $633,000 after buying an additional 12,100 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Martin Midstream Partners by 10.8% in the second quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock worth $597,000 after buying an additional 4,226 shares in the last quarter. 28.89% of the stock is currently owned by institutional investors and hedge funds.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 22 marine shore-based terminal facilities and 16 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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Analyst Recommendations for Martin Midstream Partners (NASDAQ:MMLP)

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