Martin Midstream Partners L.P. (NASDAQ:MMLP) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.50.

MMLP has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Martin Midstream Partners L.P. from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub raised shares of Martin Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Stifel Nicolaus reaffirmed a “hold” rating and set 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 reiterated a “hold” rating and issued a $20.00 price objective on shares of Martin Midstream Partners L.P. in a research note on Thursday, August 24th.

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A number of hedge funds have recently modified their holdings of MMLP. Raymond James Financial Services Advisors Inc. raised its stake in shares of Martin Midstream Partners L.P. by 2.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 91,873 shares of the pipeline company’s stock worth $1,612,000 after purchasing an additional 2,385 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Martin Midstream Partners L.P. by 192.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock valued at $167,000 after buying an additional 6,280 shares during the last quarter. CNH Partners LLC lifted its holdings in shares of Martin Midstream Partners L.P. by 62.3% during the 2nd quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock valued at $535,000 after buying an additional 11,700 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Martin Midstream Partners L.P. by 1.9% during the 2nd quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock valued at $573,000 after buying an additional 602 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Martin Midstream Partners L.P. by 20.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock valued at $8,116,000 after buying an additional 77,177 shares during the last quarter. 31.80% of the stock is currently owned by institutional investors.

Shares of Martin Midstream Partners L.P. (NASDAQ MMLP) traded up 7.72% on Wednesday, hitting $16.75. The company had a trading volume of 228,400 shares. The stock has a price-to-earnings ratio of 19.94. Martin Midstream Partners L.P. has a 12-month low of $15.45 and a 12-month high of $22.88.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last released its earnings results on Wednesday, July 26th. The pipeline company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. The company had revenue of $193.90 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS. Equities research analysts predict that Martin Midstream Partners L.P. will post $0.67 earnings per share for the current year.

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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