Martin Midstream Partners L.P. (MMLP)’s Trend Down, Especially After Forming a Double Bottom Chart Pattern

May 27, 2018 - By Nellie Frank

Investors sentiment increased to 0.89 in Q4 2017. Its up 0.18, from 0.71 in 2017Q3. It increased, as 12 investors sold Martin Midstream Partners L.P. shares while 16 reduced holdings. 13 funds opened positions while 12 raised stakes. 13.84 million shares or 17.80% more from 11.75 million shares in 2017Q3 were reported.
Evercore Wealth Mngmt Ltd Liability invested 0% of its portfolio in Martin Midstream Partners L.P. (NASDAQ:MMLP). Barclays Public Ltd owns 9,781 shares for 0% of their portfolio. California Pub Employees Retirement Systems, a California-based fund reported 39,000 shares. Geode Capital Mngmt Limited Company stated it has 24,013 shares. Northwestern Mutual Wealth Management holds 200 shares or 0% of its portfolio. Brookfield Asset Management Inc accumulated 1.97 million shares or 0.11% of the stock. Peak6 Invs Limited Partnership reported 0% in Martin Midstream Partners L.P. (NASDAQ:MMLP). The New York-based Rafferty Asset Mgmt Limited Liability Company has invested 0.04% in Martin Midstream Partners L.P. (NASDAQ:MMLP). Albert D Mason, a Massachusetts-based fund reported 29,501 shares. 1,275 are held by Manufacturers Life Insur Co The. Bessemer Group Inc has invested 0% in Martin Midstream Partners L.P. (NASDAQ:MMLP). First Trust Advisors Limited Partnership reported 652,284 shares. Royal State Bank Of Canada holds 0% or 23,450 shares in its portfolio. The Ohio-based Huntington Bancorp has invested 0% in Martin Midstream Partners L.P. (NASDAQ:MMLP). Walleye Trading Ltd Com accumulated 33,950 shares.

Since January 11, 2018, it had 14 buys, and 1 sale for $46,414 activity. $83 worth of Martin Midstream Partners L.P. (NASDAQ:MMLP) was bought by BOOTH CHRIS H on Tuesday, February 20. Shoup Scot A bought $769 worth of stock or 52 shares. $14,035 worth of Martin Midstream Partners L.P. (NASDAQ:MMLP) shares were bought by MARTIN RUBEN S. 408 shares valued at $5,825 were bought by BONDURANT ROBERT D on Thursday, April 12.

The chart of Martin Midstream Partners L.P. (MMLP) shows a double bottom with $14.16 target or 4.00 % below today’s $14.75 share price. The 9 months chart pattern indicates high risk for the $576.02 million company. It was reported on May, 27 by Finviz.com. If the $14.16 price target is reached, the company will be worth $23.04M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.01% or $0.15 during the last trading session, reaching $14.75. About 95,258 shares traded. Martin Midstream Partners L.P. (NASDAQ:MMLP) has declined 27.30% since May 27, 2017 and is downtrending. It has underperformed by 38.85% the S&P500.

Analysts await Martin Midstream Partners L.P. (NASDAQ:MMLP) to report earnings on July, 25. They expect $0.04 earnings per share, up 33.33 % or $0.01 from last year’s $0.03 per share. MMLP’s profit will be $1.56M for 92.19 P/E if the $0.04 EPS becomes a reality. After $0.32 actual earnings per share reported by Martin Midstream Partners L.P. for the previous quarter, Wall Street now forecasts -87.50 % negative EPS growth.

Martin Midstream Partners L.P. (NASDAQ:MMLP) Ratings Coverage

Among 4 analysts covering Martin Midstream Partners (NASDAQ:MMLP), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Martin Midstream Partners had 5 analyst reports since December 19, 2017 according to SRatingsIntel. The firm earned “Neutral” rating on Thursday, March 8 by Robert W. Baird. The rating was initiated by FBR Capital with “Buy” on Monday, December 18. The firm has “Hold” rating by Stifel Nicolaus given on Friday, April 27. The rating was maintained by B. Riley & Co on Tuesday, December 19 with “Buy”. The stock of Martin Midstream Partners L.P. (NASDAQ:MMLP) earned “Hold” rating by Stifel Nicolaus on Tuesday, February 27.

More recent Martin Midstream Partners L.P. (NASDAQ:MMLP) news were published by: Nasdaq.com which released: “Investor Expectations to Drive Momentum within Government Properties Income Trust, International Seaways, SELECT …” on May 18, 2018. Also Globenewswire.com published the news titled: “Martin Midstream Partners LP Announces Participation in Stephens Energy Conference” on May 15, 2018. Globenewswire.com‘s news article titled: “Martin Midstream Partners LP Announces Participation in the 2018 MLP & Energy Infrastructure Conference” with publication date: May 21, 2018 was also an interesting one.

Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company has market cap of $576.02 million. The company's Terminalling and Storage segment owns or operates 26 marine shore 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. It has a 33.52 P/E ratio. This segment also offers land rental services to gas and oil companies, as well as storage and handling services for lubricants and fuels.

Martin Midstream Partners L.P. (NASDAQ:MMLP) Institutional Positions Chart

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