Martin Midstream Partners (NASDAQ:MMLP) Stock Rating Lowered by ValuEngine

Martin Midstream Partners (NASDAQ:MMLP) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, ValuEngine reports.

A number of other brokerages have also weighed in on MMLP. Stifel Nicolaus lowered their price objective on Martin Midstream Partners from $4.00 to $2.00 and set a “hold” rating on the stock in a report on Friday, April 24th. Zacks Investment Research raised Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.50.

NASDAQ:MMLP opened at $1.19 on Monday. The firm has a market cap of $63.72 million, a price-to-earnings ratio of -0.29 and a beta of 3.22. The firm’s fifty day moving average price is $2.45 and its 200 day moving average price is $2.63. Martin Midstream Partners has a 1-year low of $0.91 and a 1-year high of $7.26.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, April 22nd. The pipeline company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $198.88 million during the quarter. Martin Midstream Partners had a negative net margin of 20.16% and a negative return on equity of 9.28%. As a group, equities research analysts anticipate that Martin Midstream Partners will post -0.29 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in MMLP. Sunbelt Securities Inc. acquired a new position in Martin Midstream Partners during the fourth quarter worth about $5,102,000. California Public Employees Retirement System lifted its position in shares of Martin Midstream Partners by 35.1% during the 4th quarter. California Public Employees Retirement System now owns 50,826 shares of the pipeline company’s stock valued at $205,000 after acquiring an additional 13,200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Martin Midstream Partners during the 1st quarter worth approximately $75,000. CNH Partners LLC grew its holdings in shares of Martin Midstream Partners by 160.0% in the 1st quarter. CNH Partners LLC now owns 106,076 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 65,282 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Martin Midstream Partners in the 1st quarter valued at approximately $210,000. 27.43% of the stock is currently owned by hedge funds and other institutional investors.

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 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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