BidaskClub upgraded shares of Martin Midstream Partners (NASDAQ:MMLP) from a sell rating to a hold rating in a research report sent to investors on Friday.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Martin Midstream Partners from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Wednesday, October 31st. ValuEngine raised Martin Midstream Partners from a sell rating to a hold rating in a research note on Thursday, November 1st. Finally, Raymond James lowered their target price on Martin Midstream Partners from $17.00 to $15.00 and set an outperform rating for the company in a research note on Friday, October 26th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $15.83.
MMLP opened at $11.60 on Friday. Martin Midstream Partners has a 12 month low of $10.25 and a 12 month high of $16.95. The firm has a market cap of $453.21 million, a P/E ratio of 30.55, a P/E/G ratio of 51.60 and a beta of 1.03. The company has a quick ratio of 1.03, a current ratio of 2.28 and a debt-to-equity ratio of 2.45.
Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, October 24th. The pipeline company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.18). Martin Midstream Partners had a return on equity of 5.03% and a net margin of 6.19%. The company had revenue of $219.05 million for the quarter, compared to analyst estimates of $226.83 million. As a group, research analysts forecast that Martin Midstream Partners will post 0.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, November 6th. This represents a $2.00 annualized dividend and a dividend yield of 17.24%. Martin Midstream Partners’s dividend payout ratio is currently 454.55%.
Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Martin Midstream Partners by 26.4% during the 2nd quarter. Bank of America Corp DE now owns 31,454 shares of the pipeline company’s stock worth $434,000 after acquiring an additional 6,564 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Martin Midstream Partners during the 3rd quarter worth about $449,000. ING Groep NV acquired a new position in shares of Martin Midstream Partners during the 3rd quarter worth about $457,000. California Public Employees Retirement System boosted its position in shares of Martin Midstream Partners by 10.8% during the 2nd quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock worth $597,000 after acquiring an additional 4,226 shares in the last quarter. Finally, PVG Asset Management Corp boosted its position in shares of Martin Midstream Partners by 35.8% during the 2nd quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock worth $633,000 after acquiring an additional 12,100 shares in the last quarter. 27.86% of the stock is owned by institutional investors and hedge funds.
About Martin Midstream Partners
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 22 marine shore-based terminal facilities and 16 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
Further Reading: How Do I Invest in Dividend Stocks
Receive News & Ratings for Martin Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.