Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note issued to investors on Sunday. The firm set a “buy” rating on the pipeline company’s stock.

Martin Midstream Partners Stock Down 0.5 %

Shares of MMLP stock opened at $3.97 on Friday. The business’s fifty day moving average is $3.88 and its 200 day moving average is $3.57. The stock has a market cap of $154.83 million, a price-to-earnings ratio of 39.70 and a beta of 2.10. Martin Midstream Partners has a twelve month low of $2.04 and a twelve month high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $170.93 million during the quarter, compared to analysts’ expectations of $176.43 million. Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. During the same period in the prior year, the company earned ($0.03) earnings per share. Equities research analysts expect that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Martin Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in MMLP. Virtu Financial LLC bought a new stake in Martin Midstream Partners in the first quarter worth $55,000. Acadian Asset Management LLC bought a new position in shares of Martin Midstream Partners during the first quarter valued at $50,000. Finally, De Lisle Partners LLP raised its position in shares of Martin Midstream Partners by 13.0% in the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 34.90% of the company’s stock.

About Martin Midstream Partners

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.