Martin Midstream Partners (NASDAQ:MMLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, January 3rd.

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. “

Other equities research analysts also recently issued reports about the stock. B. Riley reissued a “buy” rating and issued a $18.00 price objective on shares of Martin Midstream Partners in a research report on Monday, December 18th. Royal Bank of Canada restated a “hold” rating and issued a $18.00 target price on shares of Martin Midstream Partners in a report on Friday, October 27th. Stifel Nicolaus lowered their target price on shares of Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, October 26th. Finally, BidaskClub upgraded shares of Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.33.

Shares of Martin Midstream Partners (NASDAQ:MMLP) traded down $0.39 during trading hours on Wednesday, hitting $15.91. 92,573 shares of the company’s stock were exchanged, compared to its average volume of 158,324. Martin Midstream Partners has a 52 week low of $12.70 and a 52 week high of $20.90. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04. The stock has a market cap of $645.90, a P/E ratio of 35.43 and a beta of 1.49.

In other Martin Midstream Partners news, CFO Robert D. Bondurant bought 2,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was purchased at an average cost of $13.58 per share, for a total transaction of $27,160.00. Following the acquisition, the chief financial officer now owns 39,314 shares of the company’s stock, valued at approximately $533,884.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ruben S. Martin bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $13.61 per share, with a total value of $68,050.00. Following the completion of the acquisition, the insider now directly owns 140,598 shares in the company, valued at approximately $1,913,538.78. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 9,603 shares of company stock valued at $133,053. 17.00% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of MMLP. The Manufacturers Life Insurance Company boosted its stake in shares of Martin Midstream Partners by 192.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 6,280 shares during the last quarter. Sippican Capital Advisors boosted its stake in shares of Martin Midstream Partners by 12.4% during the 4th quarter. Sippican Capital Advisors now owns 32,520 shares of the pipeline company’s stock worth $455,000 after purchasing an additional 3,600 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Martin Midstream Partners by 6.5% during the 2nd quarter. Stephens Inc. AR now owns 28,733 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 1,754 shares during the last quarter. CNH Partners LLC boosted its stake in shares of Martin Midstream Partners by 62.3% during the 2nd quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock worth $535,000 after purchasing an additional 11,700 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Martin Midstream Partners by 1.9% during the 2nd quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after purchasing an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 30.41% of the company’s stock.

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About Martin Midstream Partners

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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Analyst Recommendations for Martin Midstream Partners (NASDAQ:MMLP)

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