Martin Midstream Partners (MMLP) Stock Rating Upgraded by BidaskClub

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Martin Midstream Partners (NASDAQ:MMLP) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.

Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Martin Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 26th. Royal Bank of Canada reissued a “hold” rating and issued a $17.00 price target on shares of Martin Midstream Partners in a research note on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $16.20.

Shares of MMLP opened at $11.62 on Friday. Martin Midstream Partners has a 52-week low of $10.65 and a 52-week high of $17.30. The company has a current ratio of 1.88, a quick ratio of 0.86 and a debt-to-equity ratio of 3.14. The company has a market capitalization of $453.01 million, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 17.40 and a beta of 1.50.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, July 25th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.12). Martin Midstream Partners had a net margin of 0.77% and a return on equity of 5.89%. The business had revenue of $216.57 million during the quarter, compared to analyst estimates of $222.53 million. Equities analysts predict that Martin Midstream Partners will post 0.33 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMLP. OppenheimerFunds Inc. increased its holdings in shares of Martin Midstream Partners by 1.6% during the second quarter. OppenheimerFunds Inc. now owns 6,546,670 shares of the pipeline company’s stock valued at $90,345,000 after acquiring an additional 101,718 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Martin Midstream Partners by 198.2% during the second quarter. GSA Capital Partners LLP now owns 107,965 shares of the pipeline company’s stock valued at $1,490,000 after acquiring an additional 71,765 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in shares of Martin Midstream Partners by 2.9% during the first quarter. Brookfield Asset Management Inc. now owns 2,025,324 shares of the pipeline company’s stock valued at $27,342,000 after acquiring an additional 57,457 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Martin Midstream Partners during the third quarter valued at approximately $449,000. Finally, Rational Advisors LLC bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $457,000. Hedge funds and other institutional investors own 28.78% of the company’s stock.

About Martin Midstream Partners

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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