Janney Montgomery Scott started coverage on shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) in a report issued on Friday morning. The brokerage issued a neutral rating and a $22.00 price target on the stock.

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

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Martin Midstream Partners L.P. from a hold rating to a sell rating in a research report on Wednesday, June 29th. FBR & Co initiated coverage on shares of Martin Midstream Partners L.P. in a research report on Friday, September 9th. They set an outperform rating and a $27.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Martin Midstream Partners L.P. currently has a consensus rating of Hold and a consensus price target of $21.00.

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) opened at 20.01 on Friday. The firm has a market capitalization of $709.43 million, a price-to-earnings ratio of 81.01 and a beta of 1.31. Martin Midstream Partners L.P. has a 52 week low of $13.27 and a 52 week high of $29.90. The stock has a 50 day moving average of $20.35 and a 200-day moving average of $21.47.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in Martin Midstream Partners L.P. by 559.8% in the second quarter. IFP Advisors Inc now owns 4,777 shares of the company’s stock valued at $110,000 after buying an additional 4,053 shares during the last quarter. Acrospire Investment Management LLC raised its position in Martin Midstream Partners L.P. by 4.1% in the second quarter. Acrospire Investment Management LLC now owns 5,096 shares of the company’s stock valued at $118,000 after buying an additional 200 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Martin Midstream Partners L.P. by 22.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,320 shares of the company’s stock valued at $106,000 after buying an additional 984 shares during the last quarter. Global X Management Co. LLC raised its position in Martin Midstream Partners L.P. by 9.0% in the second quarter. Global X Management Co. LLC now owns 8,567 shares of the company’s stock valued at $198,000 after buying an additional 704 shares during the last quarter. Finally, Ausdal Financial Partners Inc. purchased a new position in Martin Midstream Partners L.P. during the second quarter valued at $214,000.

Martin Midstream Partners L.P. Company Profile

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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