Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) have received a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $21.00.

A number of research firms recently weighed in on MMLP. BidaskClub lowered shares of Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Martin Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Martin Midstream Partners L.P. in a research note on Friday, August 11th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Martin Midstream Partners L.P. in a research note on Thursday, August 24th.

COPYRIGHT VIOLATION NOTICE: “Martin Midstream Partners L.P. (MMLP) Given Average Recommendation of “Hold” by Analysts” was posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/10/22/martin-midstream-partners-l-p-mmlp-given-average-recommendation-of-hold-by-analysts.html.

Shares of Martin Midstream Partners L.P. (NASDAQ MMLP) traded up 1.53% on Friday, reaching $16.55. 50,564 shares of the company were exchanged. The company’s 50-day moving average is $16.65 and its 200-day moving average is $18.02. The company has a market capitalization of $636.38 million, a price-to-earnings ratio of 19.70 and a beta of 1.51. Martin Midstream Partners L.P. has a 52 week low of $15.45 and a 52 week high of $21.14.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, July 26th. The pipeline company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.07. Martin Midstream Partners L.P. had a net margin of 3.67% and a return on equity of 9.62%. The company had revenue of $193.90 million during the quarter, compared to analyst estimates of $201.17 million. During the same period in the prior year, the firm earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts expect that Martin Midstream Partners L.P. will post $0.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 12.08%. The ex-dividend date is Monday, November 6th. Martin Midstream Partners L.P.’s payout ratio is 235.29%.

Several hedge funds have recently added to or reduced their stakes in MMLP. Ameriprise Financial Inc. lifted its position in shares of Martin Midstream Partners L.P. by 61.1% during the first quarter. Ameriprise Financial Inc. now owns 19,753 shares of the pipeline company’s stock valued at $395,000 after buying an additional 7,493 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Martin Midstream Partners L.P. by 14.2% during the first quarter. JPMorgan Chase & Co. now owns 541,865 shares of the pipeline company’s stock valued at $10,837,000 after buying an additional 67,214 shares during the last quarter. Morgan Stanley lifted its position in shares of Martin Midstream Partners L.P. by 38.2% during the first quarter. Morgan Stanley now owns 284,578 shares of the pipeline company’s stock valued at $5,692,000 after buying an additional 78,702 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Martin Midstream Partners L.P. by 8.6% during the first quarter. Bank of America Corp DE now owns 42,342 shares of the pipeline company’s stock valued at $847,000 after buying an additional 3,366 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Martin Midstream Partners L.P. by 1,077.9% during the first quarter. Goldman Sachs Group Inc. now owns 385,265 shares of the pipeline company’s stock valued at $7,705,000 after buying an additional 352,558 shares during the last quarter. 31.80% of the stock is owned by institutional investors and hedge funds.

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.

Receive News & Ratings for Martin Midstream Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.