Martin Midstream Partners L.P. (NASDAQ:MMLP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The firm presently has a $23.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 14.37% from the company’s previous close.

According to Zacks, “Martin Midstream is a limited partnership which stores and transports hydrocarbon products and specialty chemicals, primarily in the Gulf Coast. It runs a marine transportation business, mostly barges and tugs, and operates storage tanks. “

A number of other equities research analysts have also recently commented on MMLP. Janney Montgomery Scott began coverage on shares of Martin Midstream Partners L.P. in a research report on Friday, September 16th. They issued a “neutral” rating and a $22.00 target price for the company. FBR & Co began coverage on shares of Martin Midstream Partners L.P. in a research report on Friday, September 9th. They issued an “outperform” rating and a $27.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.29.

Analyst Recommendations for Martin Midstream Partners L.P. (NASDAQ:MMLP)

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) opened at 20.11 on Thursday. Martin Midstream Partners L.P. has a one year low of $13.27 and a one year high of $29.90. The stock has a market cap of $712.98 million, a PE ratio of 81.42 and a beta of 1.31. The company has a 50-day moving average of $20.24 and a 200 day moving average of $21.60.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its earnings results on Wednesday, July 27th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.38. The firm had revenue of $190.35 million for the quarter, compared to analyst estimates of $225.13 million. The firm’s revenue was down 24.2% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. On average, analysts predict that Martin Midstream Partners L.P. will post $0.56 earnings per share for the current year.

Several large investors have recently made changes to their positions in MMLP. JPMorgan Chase & Co. raised its stake in shares of Martin Midstream Partners L.P. by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 469,571 shares of the company’s stock worth $10,847,000 after buying an additional 12,268 shares in the last quarter. HITE Hedge Asset Management LLC raised its position in shares of Martin Midstream Partners L.P. by 4.6% in the second quarter. HITE Hedge Asset Management LLC now owns 341,907 shares of the company’s stock valued at $7,898,000 after buying an additional 15,060 shares during the period. Adams Asset Advisors LLC raised its position in shares of Martin Midstream Partners L.P. by 14.4% in the second quarter. Adams Asset Advisors LLC now owns 189,222 shares of the company’s stock valued at $4,371,000 after buying an additional 23,782 shares during the period. GSA Capital Partners LLP raised its position in shares of Martin Midstream Partners L.P. by 87.0% in the second quarter. GSA Capital Partners LLP now owns 148,239 shares of the company’s stock valued at $3,424,000 after buying an additional 68,959 shares during the period. Finally, Babson Capital Management LLC bought a new position in shares of Martin Midstream Partners L.P. during the first quarter valued at $2,165,000.

About Martin Midstream Partners L.P.

Martin Midstream Partners L.P. is a limited partnership company with operations focused in the United States Gulf Coast region. The Company’s segments include Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Company owns or operates approximately 30 marine shore-based terminal facilities and over 20 specialty terminal facilities located in the United States.

5 Day Chart for NASDAQ:MMLP

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