Today: Today, Lucus Advisors LLC Invests $393,000 in Martin Midstream Partners L.P. (MMLP)

Today, Lucus Advisors LLC Invests $393,000 in Martin Midstream Partners L.P. (MMLP)

Lucus Advisors LLC purchased a new position in Martin Midstream Partners L.P. (NASDAQ:MMLP) during the third quarter, Holdings Channel reports. The fund purchased 19,587 shares of the company’s stock, valued at approximately $393,000.

Several other institutional investors have also bought and sold shares of the company. 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 worth $3,424,000 after buying an additional 68,959 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Martin Midstream Partners L.P. by 9.0% in the second quarter. Global X Management Co. LLC now owns 8,567 shares of the company’s stock valued at $198,000 after buying an additional 704 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Martin Midstream Partners L.P. by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 469,571 shares of the company’s stock valued at $10,847,000 after buying an additional 12,268 shares during the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Martin Midstream Partners L.P. during the second quarter valued at $214,000. Finally, Arrow Investment Advisors LLC boosted its stake in shares of Martin Midstream Partners L.P. by 14.3% in the second quarter. Arrow Investment Advisors LLC now owns 33,145 shares of the company’s stock valued at $766,000 after buying an additional 4,141 shares during the last quarter.

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) traded down 3.45% during midday trading on Monday, hitting $16.80. The company had a trading volume of 60,071 shares. The company has a market capitalization of $595.63 million, a P/E ratio of 70.00 and a beta of 1.31. The firm’s 50 day moving average is $18.88 and its 200 day moving average is $20.99. Martin Midstream Partners L.P. has a 52 week low of $13.27 and a 52 week high of $26.50.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, October 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.06. The business earned $174.54 million during the quarter, compared to analysts’ expectations of $207.11 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The firm’s revenue was down 22.8% on a year-over-year basis. Equities research analysts anticipate that Martin Midstream Partners L.P. will post $0.49 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, November 7th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 11.49%. The ex-dividend date of this dividend was Thursday, November 3rd.

Several brokerages have recently weighed in on MMLP. Zacks Investment Research cut Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Janney Montgomery Scott began coverage on Martin Midstream Partners L.P. in a research note on Friday, September 16th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, FBR & Co began coverage on Martin Midstream Partners L.P. in a research note on Friday, September 9th. They issued an “outperform” rating and a $27.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.86.

Martin Midstream Partners L.P. Company Profile

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.

Related posts

Leave a Comment