StockNews.com Initiates Coverage on Martin Midstream Partners (NASDAQ:MMLP)

Equities researchers at StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note issued on Thursday. The brokerage set a “buy” rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

MMLP opened at $3.97 on Thursday. Martin Midstream Partners has a one year low of $2.04 and a one year high of $4.13. The company’s 50 day simple moving average is $3.74 and its 200-day simple moving average is $3.42. The stock has a market capitalization of $154.83 million, a P/E ratio of 44.11 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. The business had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, analysts anticipate that Martin Midstream Partners will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

An institutional investor recently bought a new position in Martin Midstream Partners stock. Virtu Financial LLC acquired a new stake in Martin Midstream Partners L.P. (NASDAQ:MMLP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,342 shares of the pipeline company’s stock, valued at approximately $55,000. Virtu Financial LLC owned about 0.05% of Martin Midstream Partners as of its most recent filing with the Securities and Exchange Commission (SEC). 34.90% of the stock is owned by institutional investors.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, storage, and packaging services for petroleum products and by-products primarily in the United States. The company operates in four segments: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products.