Martin Midstream Partners (MMLP) Downgraded to “Sell” at BidaskClub
BidaskClub lowered shares of Martin Midstream Partners (NASDAQ:MMLP) from a hold rating to a sell rating in a report released on Wednesday.
MMLP has been the topic of a number of other reports. B. Riley reissued a buy rating and set a $18.00 price objective on shares of Martin Midstream Partners in a report on Monday, December 18th. Zacks Investment Research raised Martin Midstream Partners from a sell rating to a hold rating in a report on Tuesday, February 27th. ValuEngine cut Martin Midstream Partners from a hold rating to a sell rating in a report on Thursday, March 1st. Stifel Nicolaus set a $15.00 price objective on Martin Midstream Partners and gave the company a hold rating in a report on Tuesday, February 27th. Finally, Robert W. Baird reissued a hold rating and set a $15.00 price objective (down from $19.00) on shares of Martin Midstream Partners in a report on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $18.17.
MMLP stock opened at $13.35 on Wednesday. The firm has a market capitalization of $499.54, a PE ratio of 18.84, a P/E/G ratio of 6.33 and a beta of 1.57. The company has a current ratio of 1.81, a quick ratio of 1.08 and a debt-to-equity ratio of 2.72. Martin Midstream Partners has a 1-year low of $12.70 and a 1-year high of $20.55.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brookfield Asset Management Inc. bought a new position in Martin Midstream Partners during the 4th quarter worth approximately $27,550,000. Two Sigma Securities LLC bought a new position in Martin Midstream Partners during the 4th quarter worth approximately $167,000. Goldman Sachs Group Inc. grew its position in Martin Midstream Partners by 107.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 566,172 shares of the pipeline company’s stock worth $7,926,000 after acquiring an additional 293,253 shares during the last quarter. Deutsche Bank AG grew its position in Martin Midstream Partners by 519.6% during the 4th quarter. Deutsche Bank AG now owns 76,010 shares of the pipeline company’s stock worth $1,064,000 after acquiring an additional 63,742 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Martin Midstream Partners by 28.1% during the 4th quarter. Geode Capital Management LLC now owns 24,013 shares of the pipeline company’s stock worth $336,000 after acquiring an additional 5,267 shares during the last quarter. Institutional investors and hedge funds own 36.56% of the company’s stock.
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.
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