Martin Midstream Partners (NASDAQ:MMLP) Price Target Lowered to $3.00 at Stifel Nicolaus

Martin Midstream Partners (NASDAQ:MMLP) had its price target decreased by Stifel Nicolaus from $4.00 to $3.00 in a report published on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the pipeline company’s stock.

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

Martin Midstream Partners Stock Down 0.7%

MMLP stock opened at $2.82 on Thursday. Martin Midstream Partners has a 52 week low of $2.21 and a 52 week high of $3.90. The business has a 50-day simple moving average of $2.84 and a 200 day simple moving average of $2.84. The company has a market cap of $110.15 million, a PE ratio of -7.62 and a beta of 0.56.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, February 18th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). The business had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $194.47 million. On average, analysts anticipate that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were given a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, February 6th. Martin Midstream Partners’s payout ratio is currently -5.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lee Financial Co bought a new stake in shares of Martin Midstream Partners during the 3rd quarter valued at approximately $830,000. Nomura Holdings Inc. lifted its stake in Martin Midstream Partners by 12.3% in the 2nd quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company’s stock valued at $11,320,000 after purchasing an additional 420,000 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Martin Midstream Partners in the 2nd quarter valued at approximately $99,000. Citadel Advisors LLC acquired a new stake in Martin Midstream Partners in the third quarter valued at approximately $41,000. Finally, Susquehanna International Group LLP boosted its position in Martin Midstream Partners by 298.9% in the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after buying an additional 33,064 shares in 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.