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

Key Points

• Stifel Nicolaus cut Martin Midstream Partners (NASDAQ:MMLP) price target from $4.00 to $3.00 and maintained a "hold" rating; the stock's consensus analyst view is "Reduce" with Weiss Ratings reiterating a "sell (d)".
• Shares trade around $2.84 after the company reported Q4 EPS of ($0.07) (vs. $0.06 expected) and revenue of $174.2M (vs. $194.47M expected), leaving a market cap near $110.9M and a negative P/E.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) had its price target lowered by stock analysts at Stifel Nicolaus from $4.00 to $3.00 in a report released on Thursday,Benzinga reports. The firm currently has a "hold" rating on the pipeline company's stock. Stifel Nicolaus' price target would indicate a potential upside of 5.63% from the company's previous close.

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Martin Midstream Partners in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $3.00.

Martin Midstream Partners Trading Down 1.4%

Shares of NASDAQ MMLP opened at $2.84 on Thursday. The stock has a fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $2.84. Martin Midstream Partners has a 1-year low of $2.21 and a 1-year high of $3.90. The firm has a market cap of $110.93 million, a price-to-earnings ratio of -7.68 and a beta of 0.56.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last issued its earnings results on Wednesday, February 18th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.13). The business had revenue of $174.20 million during the quarter, compared to analysts' expectations of $194.47 million. Analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership bought a new stake in shares of Martin Midstream Partners during the second quarter valued at about $99,000. Bank of America Corp DE grew its stake in Martin Midstream Partners by 216.0% during the second quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company's stock valued at $1,714,000 after acquiring an additional 397,163 shares in the last quarter. Nomura Holdings Inc. increased its holdings in Martin Midstream Partners by 12.3% during the 2nd quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company's stock worth $11,320,000 after acquiring an additional 420,000 shares during the period. Lee Financial Co bought a new stake in Martin Midstream Partners during the 3rd quarter worth approximately $830,000. Finally, Citadel Advisors LLC purchased a new stake in Martin Midstream Partners in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 34.90% of the company's stock.

About Martin Midstream Partners

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.

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