Thursday, 14 January, 2016

Martin Midstream Partners L.P. (MMLP) Lowered to "Strong Sell" at Zacks

Randall Craig | 09 January, 2016, 03:11

A hedge fund recently raised its stake in Rose Rock Midstream stock. Analysts on Wall Street have provided a consensus recommendation rating of 2.29 for Martin Midstream Partners L.P. (NASDAQ:MMLP). Following the completion of the transaction, the executive vice president now directly owns 15,000 shares of the company's stock, valued at approximately $130,500.

As per technical indicators, the stock's 50 Day Moving Average is at 12.45. American Midstream Partners LP has a 52 week low of $3.80 and a 52 week high of $19.96. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of $0.03 by $0.51. The firm earned $72.40 million during the quarter, compared to analyst estimates of $62.57 million. Rose Rock Midstream's revenue for the quarter was down 36.0% compared to the same quarter previous year.

Analysts are expecting earnings per share of $0.39. Analysts anticipate that Rose Rock Midstream will post $1.28 earnings per share for the current fiscal year. They issued a "neutral" rating and a $9.00 price objective for the company. Janney Montgomery Scott restated a "buy" rating and set a $30.00 target price on shares of Azure Midstream Partners, LP Common Units Limited Partnership in a research report on Wednesday, October 7th. On the other hand, the most bearish one-year price target for the stock is set at $13.

There are 5 research brokerage firms in total that have issued ratings on Enable Midstream Partners, LP (NYSE:ENBL) within the past year. The stock was bought at an average price of $33.15 per share, with a total value of $99,450.00. Citigroup Inc. assumed coverage on shares of American Midstream Partners in a research note on Thursday, November 19th. The rating system assigns a score in between 1 to 5 to a stock, where 1 denotes a Strong Buy and 5 a Strong Sell. The brokerage firms surveyed by Zacks have set the price target of the stock at $16.333.


American Midstream Partners, LP owns, operates, develops and acquires a diversified portfolio of midstream energy assets. SMLP presently provides natural gas, crude oil and produced water gathering services pursuant to primarily long-term and fee-based gathering and processing agreements with customers and counterparties in four unconventional resource basins: (i) the Appalachian Basin, which includes the Marcellus Shale formation in northern West Virginia; (ii) the Williston Basin, which includes the Bakken and Three Forks shale formations in northwestern North Dakota; (iii) the Fort Worth Basin, which includes the Barnett Shale formation in north-central Texas; and (iv) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in western Colorado and eastern Utah. The Company's operations are conducted through, and the Company's operating assets are owned by, its wholly-owned subsidiary, Rose Rock Midstream Operating, LLC, and its subsidiaries.