Martin Midstream Partners (MMLP) Upgraded to Sell at BidaskClub
Martin Midstream Partners (NASDAQ:MMLP) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Tuesday.
A number of other equities analysts also recently commented on the company. Royal Bank of Canada restated a “hold” rating and issued a $18.00 target price on shares of Martin Midstream Partners in a research note on Friday, October 27th. Zacks Investment Research downgraded Martin Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 27th. Stifel Nicolaus cut their price target on Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $20.00 price target on shares of Martin Midstream Partners in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.60.
Shares of Martin Midstream Partners (NASDAQ MMLP) traded up $0.20 during mid-day trading on Tuesday, reaching $14.55. The company’s stock had a trading volume of 261,671 shares, compared to its average volume of 157,606. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04. Martin Midstream Partners has a 12 month low of $12.70 and a 12 month high of $20.90. The firm has a market capitalization of $507.49, a P/E ratio of 18.86 and a beta of 1.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CNH Partners LLC raised its holdings in shares of Martin Midstream Partners by 62.3% during the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock valued at $535,000 after buying an additional 11,700 shares during the last quarter. Center Coast Capital Advisors LP raised its holdings in Martin Midstream Partners by 19.9% during the third quarter. Center Coast Capital Advisors LP now owns 1,959,445 shares of the pipeline company’s stock worth $30,469,000 after purchasing an additional 325,348 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Martin Midstream Partners by 20.0% during the second quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock worth $8,116,000 after purchasing an additional 77,177 shares in the last quarter. Royal Bank of Canada raised its holdings in Martin Midstream Partners by 1.9% during the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after purchasing an additional 602 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Martin Midstream Partners by 8.6% during the first quarter. Bank of America Corp DE now owns 42,342 shares of the pipeline company’s stock worth $847,000 after purchasing an additional 3,366 shares in the last quarter. 31.17% of the stock is currently owned by institutional investors.
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About Martin Midstream Partners
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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