Zacks Investment Research upgraded shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $19.00 price target on the pipeline company’s stock.

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. “

Several other research firms have also issued reports on MMLP. BidaskClub lowered Martin Midstream Partners L.P. from a hold rating to a sell rating in a research report on Wednesday, July 12th. Robert W. Baird restated a hold rating and set a $20.00 target price on shares of Martin Midstream Partners L.P. in a research report on Thursday, August 24th. Finally, Stifel Nicolaus restated a hold rating and set a $20.00 target price on shares of Martin Midstream Partners L.P. in a research report on Friday, August 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Martin Midstream Partners L.P. currently has a consensus rating of Hold and an average target price of $21.00.

Shares of Martin Midstream Partners L.P. (NASDAQ MMLP) traded down 3.12% on Wednesday, hitting $15.55. 634,733 shares of the company’s stock traded hands. Martin Midstream Partners L.P. has a 1-year low of $15.55 and a 1-year high of $22.88.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, July 26th. The pipeline company reported $0.03 earnings per share 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 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 company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) EPS. On average, equities research analysts expect that Martin Midstream Partners L.P. will post $0.67 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning grew its position in shares of Martin Midstream Partners L.P. by 33.8% in the 2nd quarter. Creative Planning now owns 5,893 shares of the pipeline company’s stock valued at $104,000 after purchasing an additional 1,490 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Martin Midstream Partners L.P. by 192.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 6,280 shares during the period. Global X Management Co. LLC grew its position in shares of Martin Midstream Partners L.P. by 18.0% in the 1st quarter. Global X Management Co. LLC now owns 16,823 shares of the pipeline company’s stock valued at $336,000 after purchasing an additional 2,563 shares during the period. Ameriprise Financial Inc. grew its position in shares of Martin Midstream Partners L.P. by 61.1% in the 1st quarter. Ameriprise Financial Inc. now owns 19,753 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 7,493 shares during the period. Finally, Sippican Capital Advisors grew its position in shares of Martin Midstream Partners L.P. by 1.8% in the 2nd quarter. Sippican Capital Advisors now owns 28,120 shares of the pipeline company’s stock valued at $494,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 31.80% of the company’s stock.

Martin Midstream Partners L.P. Company Profile

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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