Zacks Investment Research upgraded shares of Martin Midstream Partners (NASDAQ:MMLP) from a sell rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Martin Midstream is a limited partnership which stores and transports hydrocarbon products and specialty chemicals, primarily in the Gulf Coast. It runs a marine transportation business, mostly barges and tugs, and operates storage tanks. “
A number of other equities research analysts also recently weighed in on MMLP. BidaskClub upgraded Martin Midstream Partners from a strong sell rating to a sell rating in a report on Tuesday, December 12th. B. Riley restated a buy rating and set a $18.00 price objective on shares of Martin Midstream Partners in a research note on Monday, December 18th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $19.00.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a yield of 14.08%. Martin Midstream Partners’s payout ratio is currently 454.55%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brookfield Asset Management Inc. bought a new position in Martin Midstream Partners during the 4th quarter worth $27,550,000. Center Coast Capital Advisors LP grew its stake in Martin Midstream Partners by 0.4% during the 4th quarter. Center Coast Capital Advisors LP now owns 1,967,867 shares of the pipeline company’s stock worth $27,550,000 after buying an additional 8,422 shares during the last quarter. First Trust Advisors LP bought a new position in Martin Midstream Partners during the 4th quarter worth $9,132,000. Goldman Sachs Group Inc. grew its stake in Martin Midstream Partners by 107.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 566,172 shares of the pipeline company’s stock worth $7,926,000 after buying an additional 293,253 shares during the last quarter. Finally, Atlantic Trust Group LLC grew its stake in Martin Midstream Partners by 9.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 234,300 shares of the pipeline company’s stock worth $3,643,000 after buying an additional 19,790 shares during the last quarter. Hedge funds and other institutional investors own 31.21% of the company’s stock.
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Martin Midstream Partners Company Profile
Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.
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