Stifel Nicolaus Issues Pessimistic Forecast for Martin Midstream Partners (NASDAQ:MMLP) Stock Price

Martin Midstream Partners (NASDAQ:MMLP) had its price objective reduced by stock analysts at Stifel Nicolaus from $4.00 to $3.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the pipeline company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 5.63% from the stock’s previous close.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Martin Midstream Partners in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $3.00.

Martin Midstream Partners Stock Down 1.4%

NASDAQ:MMLP opened at $2.84 on Thursday. The stock has a market cap of $110.93 million, a P/E ratio of -7.68 and a beta of 0.56. The business’s 50-day moving average price is $2.84 and its two-hundred day moving average price is $2.84. Martin Midstream Partners has a twelve month low of $2.21 and a twelve month high of $3.90.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, February 18th. The pipeline company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.13). The firm had revenue of $174.20 million during the quarter, compared to the consensus estimate of $194.47 million. On average, equities research analysts expect that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Institutional Trading of Martin Midstream Partners

Several hedge funds and other institutional investors have recently bought and sold shares of MMLP. Lee Financial Co bought a new position in shares of Martin Midstream Partners in the third quarter worth approximately $830,000. Nomura Holdings Inc. raised its holdings in Martin Midstream Partners by 12.3% during the 2nd quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company’s stock valued at $11,320,000 after buying an additional 420,000 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in Martin Midstream Partners during the 2nd quarter valued at $99,000. Commerce Bank bought a new stake in Martin Midstream Partners in the 4th quarter worth $28,000. Finally, Susquehanna International Group LLP grew its holdings in Martin Midstream Partners by 298.9% in the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock worth $135,000 after acquiring an additional 33,064 shares during the last quarter. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.