Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) shot up 3.3% on Wednesday . The company traded as high as $20.74 and last traded at $20.67, with a volume of 105,543 shares changing hands. The stock had previously closed at $20.01.

A number of brokerages recently weighed in on MMLP. Zacks Investment Research raised shares of Martin Midstream Partners L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Janney Montgomery Scott began coverage on shares of Martin Midstream Partners L.P. in a report on Friday, September 16th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, FBR & Co began coverage on shares of Martin Midstream Partners L.P. in a report on Friday, September 9th. They issued an “outperform” rating and a $27.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

The firm has a market capitalization of $744.18 million, a PE ratio of 84.98 and a beta of 1.31. The company has a 50 day moving average price of $20.33 and a 200-day moving average price of $21.47.

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Martin Midstream Partners L.P. (NASDAQ:MMLP) last announced its earnings results on Wednesday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.38. The business had revenue of $190.35 million for the quarter, compared to analysts’ expectations of $225.13 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. On average, equities research analysts forecast that Martin Midstream Partners L.P. will post $0.56 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of 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 worth $110,000 after buying an additional 4,053 shares during the last quarter. KCG Holdings Inc. increased its stake in shares of Martin Midstream Partners L.P. by 82.9% in the second quarter. KCG Holdings Inc. now owns 22,504 shares of the company’s stock worth $520,000 after buying an additional 10,202 shares during the period. Texas Yale Capital Corp. increased its stake in shares of Martin Midstream Partners L.P. by 134.5% in the second quarter. Texas Yale Capital Corp. now owns 25,800 shares of the company’s stock worth $596,000 after buying an additional 14,800 shares during the period. Van ECK Associates Corp increased its stake in shares of Martin Midstream Partners L.P. by 3.5% in the second quarter. Van ECK Associates Corp now owns 51,374 shares of the company’s stock worth $1,187,000 after buying an additional 1,729 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Martin Midstream Partners L.P. by 1.2% in the second quarter. Raymond James & Associates now owns 49,816 shares of the company’s stock worth $1,151,000 after buying an additional 604 shares during the period.

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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