RBC Capital Reiterates Their Hold Rating on Martin Midstream

By Ryan Adsit

RBC Capital analyst Elvira Scotto reiterated a Hold rating on Martin Midstream (NASDAQ: MMLP) today and set a price target of $22. The company’s shares opened today at $18.85.

According to TipRanks.com, Scotto is a top 25 analyst with an average return of 23.6% and a 76.2% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Energy Transfer Partners LP, and Sanchez Production Partners.

Martin Midstream has an analyst consensus of Moderate Buy, with a price target consensus of $21.75.

Martin Midstream’s market cap is currently $730.6M and has a P/E ratio of 27.61. The company has a book value ratio of 2.1022.

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Martin Midstream Partners LP is engaged in the diverse set of operations focused primarily in the United States Gulf Coast region. The company operates through the following segments: Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Terminalling & Storage segment owns or operates marine shore-based terminal facilities and specialty terminal facilities located primarily in the U.S. Gulf Coast region that provides storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of various grades and quantities of industrial, commercial, and automotive lubricants and greases. The Natural Gas Services segment distributes natural gas liquids. It purchases NGLs primarily from refineries and natural gas processors. The segment stores and transports NGLs for wholesale deliveries to refineries, industrial NGL users in Texas and the Southeastern U.S, and propane retailers. The Sulfur Services segment develops an integrated system of transportation assets and facilities relating to sulfur services. It processes and distributes sulfur produced by oil refineries primarily located in the U.S. Gulf Coast region. This segment buys and sells molten sulfur on contracts that are tied to sulfur indices and tend to provide stable margins. The Marine Transportation segment operates a fleet of inland marine tank barges, inland push boats, offshore tug, and barge unit that transport petroleum products and by-products largely in the U.S. Gulf Coast region. Martin Midstream Partners was founded in 2002 and is headquartered in Kilgore, TX.