Martin Midstream Partners L.P. (NASDAQ:MMLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, October 18th. The firm currently has a $19.00 target price on the pipeline company’s stock. Zacks Investment Research‘s price target points to a potential upside of 21.41% from the company’s previous close.
According to Zacks, “Martin Midstream is a limited partnership which stores and transports hydrocarbon products and specialty chemicals, primarily in the Gulf Coast. It runs a marine transportation business, mostly barges and tugs, and operates storage tanks. “
Several other equities research analysts also recently issued reports on MMLP. BidaskClub downgraded Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Robert W. Baird reiterated a “hold” rating and set a $20.00 price target on shares of Martin Midstream Partners L.P. in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $20.00 price objective on shares of Martin Midstream Partners L.P. in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Martin Midstream Partners L.P. has a consensus rating of “Hold” and a consensus price target of $19.60.
Shares of Martin Midstream Partners L.P. (MMLP) traded up $0.19 on Wednesday, reaching $15.65. The company’s stock had a trading volume of 113,282 shares, compared to its average volume of 94,950. 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 L.P. has a 12-month low of $15.45 and a 12-month high of $20.90. The firm has a market capitalization of $613.22, a price-to-earnings ratio of 22.79 and a beta of 1.57.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bollard Group LLC raised its stake in Martin Midstream Partners L.P. by 0.3% during the second quarter. Bollard Group LLC now owns 63,708 shares of the pipeline company’s stock valued at $1,118,000 after buying an additional 193 shares during the last quarter. Sippican Capital Advisors raised its stake in Martin Midstream Partners L.P. by 1.8% during the second quarter. Sippican Capital Advisors now owns 28,120 shares of the pipeline company’s stock valued at $494,000 after buying an additional 500 shares during the last quarter. Royal Bank of Canada raised its stake in Martin Midstream Partners L.P. by 1.9% during the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock valued at $573,000 after buying an additional 602 shares during the last quarter. Creative Planning raised its stake in shares of Martin Midstream Partners L.P. by 33.8% in the second quarter. Creative Planning now owns 5,893 shares of the pipeline company’s stock worth $104,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Martin Midstream Partners L.P. by 6.5% in the second quarter. Stephens Inc. AR now owns 28,733 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 1,754 shares during the last quarter. Institutional investors own 31.77% of the company’s stock.
About Martin Midstream Partners L.P.
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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