15. Martin Midstream Partners L.P. (NASDAQ:MMLP)
Number of Hedge Fund Holders: 3
Martin Midstream Partners L.P. (NASDAQ:MMLP) is included in our list of the 20 largest MLPs.
Martin Midstream Partners L.P. (NASDAQ:MMLP) amended its credit agreement with a Royal Bank of Canada-led syndicate on March 31, 2026, effectively reducing the company’s revolving capacity from $130 million to $115 million. The revision results in stricter financial discipline, raising the minimum interest coverage ratio to 1.65x for 2026 and to 1.75x for 2027. It also lowers the maximum leverage thresholds to 5.00x by late 2027. These tighter covenants support the partnership’s credit quality and balance sheet stability. However, they could also potentially limit future borrowing flexibility for aggressive growth.
Stifel lowered the price target on Martin Midstream Partners L.P. (NASDAQ:MMLP) from $4 to $3. A Hold rating was maintained on the company’s stock by the firm’s analyst Selman Akyol. According to the analyst, Venezuela barrels favor sulfur in the U.S. At the same time, the firm sees a decline in demand for fertilizers owing to unfavorable growing conditions for cotton in Texas.
Founded in 2002, Martin Midstream Partners L.P. (NASDAQ:MMLP) is a publicly traded limited partnership operating primarily in the U.S. Gulf Coast region. Based in Texas, the company provides terminalling, processing, storage, and land/marine transportation services for petroleum products, chemicals, and specialty products.
14. Mach Natural Resources LP (NYSE:MNR)
Number of Hedge Fund Holders: 3
Mach Natural Resources LP (NYSE:MNR) is included in our list of the 20 largest MLPs.
Mach Natural Resources LP (NYSE:MNR) closed a secondary public unit offering of 9,000,000 common units on April 8, 2026, following an underwriting agreement with Morgan Stanley, initiated on April 6, 2026. The transaction involved a secondary sale by existing unitholders. These unitholders received all the net proceeds from the transaction, and the company did not gain any new capital. Notably, Tom L. Ward, CEO of Mach Natural Resources LP (NYSE:MNR), signaled confidence by purchasing 153,256 units at the offering price, through affiliated entities. In addition to facilitating liquidity for selling stakeholders, the move also reflects the partnership’s continued access to public equity markets while maintaining its existing capital structure with the help of effective shelf registration and customary terms.
Prior to this, on March 24, 2026, Truist initiated coverage of Mach Natural Resources LP (NYSE:MNR) with a Hold rating and set a price target of $14 on the stock. According to the firm, the company is a strong acquirer with low reinvestment rates. The analyst further pointed out in the research note that the company is currently fairly valued across EBITDA and NAV metrics.
Founded in 2017, Mach Natural Resources LP (NYSE:MNR) is an independent upstream MLP focused on the acquisition and development of oil and gas reserves. The Oklahoma-based company operates primarily in the Anadarko Basin across Western Oklahoma, Southern Kansas, and the Texas Panhandle.
