Robert W. Baird reaffirmed their hold rating on shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) in a report issued on Thursday morning. The brokerage currently has a $20.00 price target on the pipeline company’s stock.

A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus cut Martin Midstream Partners L.P. from a buy rating to a hold rating and set a $20.00 target price on the stock. in a report on Friday, April 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded Martin Midstream Partners L.P. from a sell rating to a hold rating in a report on Thursday, April 27th. FBR & Co reiterated a buy rating and issued a $24.00 target price on shares of Martin Midstream Partners L.P. in a report on Monday, May 1st. Royal Bank Of Canada reiterated a hold rating and issued a $22.00 target price on shares of Martin Midstream Partners L.P. in a report on Tuesday, May 23rd. Finally, BidaskClub cut Martin Midstream Partners L.P. from a hold rating to a sell rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Martin Midstream Partners L.P. currently has an average rating of Hold and a consensus price target of $21.33.

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) traded down 2.05% during mid-day trading on Thursday, hitting $16.75. 136,546 shares of the stock were exchanged. Martin Midstream Partners L.P. has a 1-year low of $15.58 and a 1-year high of $22.88.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its earnings results on Wednesday, July 26th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.07. Martin Midstream Partners L.P. had a return on equity of 1.16% and a net margin of 0.51%. The company had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $201.17 million. During the same period last year, the business earned ($0.14) EPS. Martin Midstream Partners L.P.’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that Martin Midstream Partners L.P. will post $0.66 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.94%. The ex-dividend date was Thursday, August 3rd. Martin Midstream Partners L.P.’s dividend payout ratio is currently 235.29%.

Several institutional investors have recently modified their holdings of MMLP. Center Coast Capital Advisors LP boosted its position in shares of Martin Midstream Partners L.P. by 1,393.0% in the first quarter. Center Coast Capital Advisors LP now owns 1,579,958 shares of the pipeline company’s stock worth $31,599,000 after buying an additional 1,474,137 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Martin Midstream Partners L.P. by 6.1% in the first quarter. OppenheimerFunds Inc. now owns 6,525,869 shares of the pipeline company’s stock valued at $130,517,000 after buying an additional 374,670 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Martin Midstream Partners L.P. by 1,077.9% in the first quarter. Goldman Sachs Group Inc. now owns 385,265 shares of the pipeline company’s stock valued at $7,705,000 after buying an additional 352,558 shares during the period. Atlantic Trust Group LLC bought a new position in shares of Martin Midstream Partners L.P. during the first quarter valued at $5,000,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Martin Midstream Partners L.P. during the first quarter valued at $3,388,000. Institutional investors own 33.61% of the company’s stock.

About Martin Midstream Partners L.P.

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

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

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