Raymond James Financial Services Advisors Inc. lessened its holdings in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,410 shares of the pipeline company’s stock after selling 8,123 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.23% of Martin Midstream Partners worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of MMLP. Bollard Group LLC grew its holdings in shares of Martin Midstream Partners by 5.0% during the 4th quarter. Bollard Group LLC now owns 44,000 shares of the pipeline company’s stock worth $452,000 after purchasing an additional 2,100 shares in the last quarter. Arrow Investment Advisors LLC boosted its stake in Martin Midstream Partners by 12.9% in the first quarter. Arrow Investment Advisors LLC now owns 49,935 shares of the pipeline company’s stock valued at $622,000 after buying an additional 5,716 shares in the last quarter. Barclays PLC boosted its stake in Martin Midstream Partners by 124.5% in the fourth quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock valued at $156,000 after buying an additional 8,408 shares in the last quarter. Jane Street Group LLC acquired a new stake in Martin Midstream Partners in the fourth quarter valued at about $109,000. Finally, Sippican Capital Advisors acquired a new stake in Martin Midstream Partners in the first quarter valued at about $189,000. Institutional investors and hedge funds own 27.24% of the company’s stock.
A number of brokerages have recently commented on MMLP. ValuEngine lowered Martin Midstream Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. BidaskClub raised Martin Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research lowered Martin Midstream Partners from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, TheStreet lowered Martin Midstream Partners from a “c” rating to a “d+” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.33.
Shares of MMLP traded up $0.17 during mid-day trading on Friday, reaching $7.14. 132,548 shares of the company were exchanged, compared to its average volume of 250,853. Martin Midstream Partners L.P. has a 52 week low of $6.03 and a 52 week high of $14.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.36 and a quick ratio of 0.22. The company has a market capitalization of $271.13 million, a PE ratio of -37.58, a PEG ratio of 6.48 and a beta of 1.09. The stock has a 50 day simple moving average of $6.91.
Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, April 24th. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.31). The company had revenue of $250.97 million for the quarter, compared to the consensus estimate of $276.53 million. Martin Midstream Partners had a negative return on equity of 10.10% and a net margin of 2.78%. Equities research analysts predict that Martin Midstream Partners L.P. will post 0.54 EPS for the current fiscal year.
Martin Midstream Partners Company Profile
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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