Martin Midstream Partners L.P. (NASDAQ:MMLP)’s share price was down 1.3% during mid-day trading on Friday . The company traded as low as $23.66 and last traded at $23.96, with a volume of 181,600 shares. The stock had previously closed at $24.28.

A number of equities analysts have issued reports on MMLP shares. Raymond James Financial Inc. increased their price target on Martin Midstream Partners L.P. from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, March 25th. Robert W. Baird reiterated a “hold” rating on shares of Martin Midstream Partners L.P. in a research report on Saturday, April 9th. Finally, Zacks Investment Research downgraded Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.20.

The firm’s 50-day moving average is $22.78 and its 200-day moving average is $20.04. The stock has a market cap of $850.54 million and a price-to-earnings ratio of 41.65.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last posted its earnings results on Wednesday, April 27th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The firm earned $205.60 million during the quarter, compared to analyst estimates of $253.33 million. The business’s revenue was down 32.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. Analysts expect that Martin Midstream Partners L.P. will post $0.94 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP purchased a new stake in Martin Midstream Partners L.P. during the fourth quarter valued at $7,675,000. Penserra Capital Management LLC purchased a new stake in Martin Midstream Partners L.P. during the fourth quarter valued at $1,146,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Martin Midstream Partners L.P. by 430.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,273 shares of the company’s stock valued at $1,221,000 after buying an additional 45,664 shares during the last quarter.

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.

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