Published On: Mon, Sep 19th, 2016

Martin Midstream Partners L.P. (NASDAQ:MMLP) Given Average Rating of “Hold” by Brokerages

Martin Midstream Partners L.P. (NASDAQ:MMLP) has received an average rating of “Hold” from the eight ratings firms that are currently covering the firm. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.00.
Several analysts recently issued reports on MMLP shares. Zacks Investment Research downgraded Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. FBR & Co started coverage on Martin Midstream Partners L.P. in a report on Friday, September 9th. They issued an “outperform” rating and a $27.00 price target for the company. Finally, Janney Montgomery Scott started coverage on Martin Midstream Partners L.P. in a report on Friday. They issued a “neutral” rating and a $22.00 price target for the company.
Several institutional investors have recently modified their holdings of MMLP. Babson Capital Management LLC bought a new position in shares of Martin Midstream Partners L.P. during the first quarter valued at approximately $2,165,000. Pinnacle Holdings LLC boosted its position in shares of Martin Midstream Partners L.P. by 3.4% in the first quarter. Pinnacle Holdings LLC now owns 66,141 shares of the company’s stock valued at $1,328,000 after buying an additional 2,145 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Martin Midstream Partners L.P. by 31.3% in the first quarter. Rafferty Asset Management LLC now owns 106,790 shares of the company’s stock valued at $2,144,000 after buying an additional 25,442 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Martin Midstream Partners L.P. by 87.0% in the second quarter. GSA Capital Partners LLP now owns 148,239 shares of the company’s stock valued at $3,424,000 after buying an additional 68,959 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Martin Midstream Partners L.P. by 3.9% in the first quarter. State Street Corp now owns 24,665 shares of the company’s stock valued at $496,000 after buying an additional 924 shares during the last quarter.

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Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) traded down 0.40% during trading on Monday, reaching $19.95. The company had a trading volume of 132,506 shares. The stock has a 50 day moving average of $21.05 and a 200 day moving average of $21.40. Martin Midstream Partners L.P. has a 52-week low of $13.27 and a 52-week high of $29.90. The stock has a market capitalization of $707.31 million, a price-to-earnings ratio of 80.77 and a beta of 1.31.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.38. The company earned $190.35 million during the quarter, compared to analysts’ expectations of $225.13 million. During the same period in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was down 24.2% compared to the same quarter last year. Equities research analysts forecast that Martin Midstream Partners L.P. will post $0.56 EPS for the current year.
About Martin Midstream Partners L.P.
Martin Midstream Partners L.P. is a limited partnership company with operations focused in the United States Gulf Coast region. The Company’s segments include Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Company owns or operates approximately 30 marine shore-based terminal facilities and over 20 specialty terminal facilities located in the United States.

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