Martin Midstream Partners L.P. (NASDAQ:MMLP) reached a new 52-week low on Friday . The stock traded as low as $15.55 and last traded at $15.55, with a volume of 634,733 shares trading hands. The stock had previously closed at $16.05.

Several research firms have weighed in on MMLP. BidaskClub cut shares of Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Martin Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday. Stifel Nicolaus restated a “hold” rating and issued a $20.00 price objective on shares of Martin Midstream Partners L.P. in a research report on Friday, August 11th. Finally, Robert W. Baird restated a “hold” rating and issued a $20.00 price objective on shares of Martin Midstream Partners L.P. in a research report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $21.00.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its earnings results on Wednesday, July 26th. The pipeline company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. The firm had revenue of $193.90 million during the quarter, compared to the consensus estimate of $201.17 million. Martin Midstream Partners L.P. had a return on equity of 9.62% and a net margin of 3.67%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Equities research analysts predict that Martin Midstream Partners L.P. will post $0.67 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Center Coast Capital Advisors LP raised its stake in Martin Midstream Partners L.P. by 3.4% during the second quarter. Center Coast Capital Advisors LP now owns 1,634,097 shares of the pipeline company’s stock worth $28,678,000 after acquiring an additional 54,139 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Martin Midstream Partners L.P. by 14.2% during the first quarter. JPMorgan Chase & Co. now owns 541,865 shares of the pipeline company’s stock worth $10,837,000 after acquiring an additional 67,214 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Martin Midstream Partners L.P. by 20.0% during the second quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock worth $8,116,000 after acquiring an additional 77,177 shares in the last quarter. Adams Asset Advisors LLC raised its stake in Martin Midstream Partners L.P. by 5.3% during the second quarter. Adams Asset Advisors LLC now owns 288,937 shares of the pipeline company’s stock worth $5,071,000 after acquiring an additional 14,414 shares in the last quarter. Finally, Morgan Stanley raised its stake in Martin Midstream Partners L.P. by 38.2% during the first quarter. Morgan Stanley now owns 284,578 shares of the pipeline company’s stock worth $5,692,000 after acquiring an additional 78,702 shares in the last quarter. 31.80% of the stock is owned by hedge funds and other institutional investors.

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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.

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