Martin Midstream Partners L.P. (NASDAQ:MMLP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

A number of other brokerages have also commented on MMLP. Stifel Nicolaus decreased their price target on shares of Martin Midstream Partners L.P. from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 28th. FBR & Co reissued a “buy” rating and issued a $24.00 price target on shares of Martin Midstream Partners L.P. in a report on Monday, May 1st. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $22.00 price target on shares of Martin Midstream Partners L.P. in a report on Tuesday, May 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.60.

Shares of Martin Midstream Partners L.P. (NASDAQ MMLP) traded down 0.85% during mid-day trading on Wednesday, reaching $17.55. 58,410 shares of the company’s stock were exchanged. Martin Midstream Partners L.P. has a 52-week low of $15.58 and a 52-week high of $25.38.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, April 26th. The pipeline company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.10. The firm had revenue of $253.33 million for the quarter, compared to analyst estimates of $229.84 million. Martin Midstream Partners L.P. had a net margin of 3.43% and a return on equity of 8.89%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. Equities research analysts forecast that Martin Midstream Partners L.P. will post $0.45 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of Martin Midstream Partners L.P. during the fourth quarter worth about $243,000. Albert D Mason Inc. boosted its stake in shares of Martin Midstream Partners L.P. by 0.5% in the first quarter. Albert D Mason Inc. now owns 15,173 shares of the pipeline company’s stock worth $303,000 after buying an additional 70 shares during the period. Global X Management Co. LLC boosted its stake in shares of Martin Midstream Partners L.P. by 18.0% in the first quarter. Global X Management Co. LLC now owns 16,823 shares of the pipeline company’s stock worth $336,000 after buying an additional 2,563 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Martin Midstream Partners L.P. by 61.1% in the first quarter. Ameriprise Financial Inc. now owns 19,753 shares of the pipeline company’s stock worth $395,000 after buying an additional 7,493 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Martin Midstream Partners L.P. by 134.3% in the fourth quarter. Renaissance Technologies LLC now owns 27,878 shares of the pipeline company’s stock worth $512,000 after buying an additional 15,978 shares during the period. 33.88% of the stock is owned by institutional investors.

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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