Stifel Nicolaus Has Lowered Expectations for Martin Midstream Partners (NASDAQ:MMLP) Stock Price

Martin Midstream Partners (NASDAQ:MMLP) had its price target reduced by Stifel Nicolaus from $4.00 to $3.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the pipeline company’s stock. Stifel Nicolaus’ price target points to a potential upside of 8.70% from the company’s current price.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Martin Midstream Partners in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $3.00.

Martin Midstream Partners Stock Performance

Shares of NASDAQ:MMLP opened at $2.76 on Thursday. Martin Midstream Partners has a 52 week low of $2.21 and a 52 week high of $3.87. The company has a market capitalization of $107.81 million, a PE ratio of -7.46 and a beta of 0.56. The company has a 50 day moving average price of $2.84 and a two-hundred day moving average price of $2.84.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, February 18th. The pipeline company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). The firm had revenue of $174.20 million for the quarter, compared to the consensus estimate of $194.47 million. On average, sell-side analysts forecast that Martin Midstream Partners will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its holdings in Martin Midstream Partners by 12.3% during the second quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company’s stock worth $11,320,000 after purchasing an additional 420,000 shares during the last quarter. Bank of America Corp DE increased its stake in Martin Midstream Partners by 216.0% in the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after buying an additional 397,163 shares during the last quarter. Lee Financial Co acquired a new stake in Martin Midstream Partners in the 3rd quarter valued at $830,000. Artisan Partners Limited Partnership increased its stake in Martin Midstream Partners by 221.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 107,339 shares of the pipeline company’s stock valued at $328,000 after buying an additional 73,926 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its position in Martin Midstream Partners by 298.9% during the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock worth $135,000 after buying an additional 33,064 shares in the last quarter. 34.90% of the stock is owned by institutional investors and hedge funds.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.