Trade Report: Today: Martin Midstream Partners L.P. (MMLP) Given Average Recommendation of “Hold” by Brokerages

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

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) have received an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.50.

A number of analysts recently issued reports on MMLP shares. Zacks Investment Research downgraded shares of Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd. FBR & Co assumed coverage on shares of Martin Midstream Partners L.P. in a research report on Friday, September 9th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, Janney Montgomery Scott assumed coverage on shares of Martin Midstream Partners L.P. in a research report on Friday, September 16th. They issued a “neutral” rating and a $22.00 price objective for the company.

Martin Midstream Partners L.P. (NASDAQ:MMLP) traded down 3.5816% during mid-day trading on Monday, reaching $16.7768. 52,373 shares of the company traded hands. The stock has a market capitalization of $594.80 million, a PE ratio of 69.9033 and a beta of 1.31. Martin Midstream Partners L.P. has a 52-week low of $13.27 and a 52-week high of $26.50. The firm’s 50-day moving average is $18.88 and its 200 day moving average is $20.99.

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

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

Several hedge funds have recently added to or reduced their stakes in MMLP. Babson Capital Management LLC bought a new stake in Martin Midstream Partners L.P. during the first quarter worth $2,165,000. HITE Hedge Asset Management LLC increased its stake in Martin Midstream Partners L.P. by 4.6% in the second quarter. HITE Hedge Asset Management LLC now owns 341,907 shares of the company’s stock worth $7,898,000 after buying an additional 15,060 shares during the last quarter. GSA Capital Partners LLP increased its stake in 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. Sippican Capital Advisors increased its stake in Martin Midstream Partners L.P. by 12.8% in the second quarter. Sippican Capital Advisors now owns 24,405 shares of the company’s stock worth $564,000 after buying an additional 2,775 shares during the last quarter. Finally, Pointe Capital Management LLC increased its stake in Martin Midstream Partners L.P. by 7.3% in the second quarter. Pointe Capital Management LLC now owns 40,992 shares of the company’s stock worth $947,000 after buying an additional 2,775 shares during the last quarter.

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