Martin Midstream Partners L.P. (MMLP) PT Set at $24.00 by FBR & Co
Martin Midstream Partners L.P. (NASDAQ:MMLP) has been given a $24.00 target price by FBR & Co in a report issued on Thursday. The brokerage presently has a “buy” rating on the stock. FBR & Co’s target price suggests a potential upside of 28.69% from the company’s current price.
Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, December 29th. Stifel Nicolaus raised Martin Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, December 6th.
Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.63.
Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) traded up 0.204% during mid-day trading on Thursday, hitting $18.688. The stock had a trading volume of 96,394 shares. Martin Midstream Partners L.P. has a 12-month low of $14.00 and a 12-month high of $25.38. The firm has a market cap of $662.56 million, a P/E ratio of 77.867 and a beta of 1.35. The company has a 50 day moving average price of $18.66 and a 200 day moving average price of $19.09.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, February 7th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 10.72%.
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A number of hedge funds have recently added to or reduced their stakes in MMLP. First Trust Advisors LP boosted its stake in Martin Midstream Partners L.P. by 47.3% in the third quarter. First Trust Advisors LP now owns 768,268 shares of the company’s stock worth $15,396,000 after buying an additional 246,702 shares during the last quarter. Center Coast Capital Advisors LP boosted its stake in Martin Midstream Partners L.P. by 16.8% in the third quarter. Center Coast Capital Advisors LP now owns 1,569,779 shares of the company’s stock worth $31,458,000 after buying an additional 225,536 shares during the last quarter. Albert D Mason Inc. boosted its stake in Martin Midstream Partners L.P. by 73.5% in the third quarter. Albert D Mason Inc. now owns 57,506 shares of the company’s stock worth $1,152,000 after buying an additional 24,358 shares during the last quarter. Lucus Advisors LLC purchased a new stake in Martin Midstream Partners L.P. during the third quarter worth about $393,000. Finally, Agran Libbie purchased a new stake in Martin Midstream Partners L.P. during the third quarter worth about $3,278,000. 27.07% of the stock is owned by hedge funds and other institutional investors.
About Martin Midstream Partners L.P.
Martin Midstream Partners L.P. is a limited partnership company with operations focused in the United States Gulf Coast region. The Company’s segments include Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Company owns or operates approximately 30 marine shore-based terminal facilities and over 20 specialty terminal facilities located in the United States.
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