Martin Midstream Partners LP (NASDAQ: MMLP) has experienced a decline in its stock price by -5.01 compared to its previous closing price of 3.79. However, the company has seen a gain of 0.28% in its stock price over the last five trading days. businesswire.com reported 2024-10-03 that KILGORE, Texas–(BUSINESS WIRE)–Martin Midstream Partners L.P. (“MMLP”) (Nasdaq: MMLP) today announced that it has entered into a definitive agreement and plan of merger (“Merger Agreement”) pursuant to which Martin Resource Management Corporation (“MRMC”) would acquire all of the outstanding common units of MMLP not already owned by MRMC and its subsidiaries (the “Public Common Units”). The Merger Agreement follows the offer made by MRMC in May 2024 to acquire the Public Common Units. The Mer.
Is It Worth Investing in Martin Midstream Partners LP (NASDAQ: MMLP) Right Now?
Martin Midstream Partners LP (NASDAQ: MMLP) has a price-to-earnings ratio that is above its average at 22.03x. The stock has a 36-month beta value of 2.12. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 1 as “overweight,” 6 as “hold,” and 0 as “sell.”
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The public float for MMLP is 27.98M, and at present, short sellers hold a 0.26% of that float. On October 04, 2024, the average trading volume of MMLP was 90.76K shares.
MMLP’s Market Performance
The stock of Martin Midstream Partners LP (MMLP) has seen a 0.28% increase in the past week, with a 0.00% drop in the past month, and a 10.77% gain in the past quarter. The volatility ratio for the week is 3.73%, and the volatility levels for the past 30 days are at 3.33% for MMLP. The simple moving average for the past 20 days is 0.10% for MMLP’s stock, with a 20.86% simple moving average for the past 200 days.
Analysts’ Opinion of MMLP
Many brokerage firms have already submitted their reports for MMLP stocks, with Wells Fargo repeating the rating for MMLP by listing it as a “Underweight.” The predicted price for MMLP in the upcoming period, according to Wells Fargo is $4 based on the research report published on January 07, 2020 of the previous year 2020.
B. Riley FBR Inc., on the other hand, stated in their research note that they expect to see MMLP reach a price target of $18. The rating they have provided for MMLP stocks is “Buy” according to the report published on December 19th, 2017.
Stifel gave a rating of “Hold” to MMLP, setting the target price at $20 in the report published on April 28th of the previous year.
MMLP Trading at -1.24% from the 50-Day Moving Average
After a stumble in the market that brought MMLP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.85% of loss for the given period.
Volatility was left at 3.33%, however, over the last 30 days, the volatility rate increased by 3.73%. Over the last 50 days, in opposition, the stock is trading +2.56% upper at present.
During the last 5 trading sessions, MMLP rose by +0.28%, which changed the moving average for the period of 200-days by +48.15% in comparison to the 20-day moving average, which settled at $3.60. In addition, Martin Midstream Partners LP saw 50.00% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MMLP starting from BONDURANT ROBERT D, who purchase 111 shares at the price of $3.61 back on Aug 16 ’24. After this action, BONDURANT ROBERT D now owns 149,296 shares of Martin Midstream Partners LP, valued at $402 using the latest closing price.
Taylor Sharon L, the Executive Vice President / CFO of Martin Midstream Partners LP, purchase 21 shares at $3.61 during a trade that took place back on Aug 16 ’24, which means that Taylor Sharon L is holding 23,323 shares at $75 based on the most recent closing price.
Stock Fundamentals for MMLP
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.24 for the gross margin
The net margin for Martin Midstream Partners LP stands at 0.01. The total capital return value is set at 0.12.
Based on Martin Midstream Partners LP (MMLP), the company’s capital structure generated 1.15 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at -7.66. The interest coverage ratio of the stock is 2.06.
Currently, EBITDA for the company is 115.25 million with net debt to EBITDA at 5.82. When we switch over and look at the enterprise to sales, we see a ratio of 0.89. The receivables turnover for the company is 9.9for trailing twelve months and the total asset turnover is 1.35. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.27.
Conclusion
To sum up, Martin Midstream Partners LP (MMLP) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
