Martin Midstream Partners (NASDAQ:MMLP) Now Covered by StockNews.com

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

Martin Midstream Partners Price Performance

NASDAQ:MMLP opened at $3.56 on Friday. Martin Midstream Partners has a one year low of $2.04 and a one year high of $4.13. The business has a fifty day moving average price of $3.82 and a 200-day moving average price of $3.75. The firm has a market capitalization of $138.84 million, a price-to-earnings ratio of 35.60 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The company had revenue of $170.93 million during the quarter, compared to the consensus estimate 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 last year, the business earned ($0.03) EPS. On average, equities research analysts expect that Martin Midstream Partners will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP lifted its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 260,833 shares of the pipeline company’s stock after buying an additional 30,000 shares during the quarter. De Lisle Partners LLP owned approximately 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.