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

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

Martin Midstream Partners Stock Down 0.5 %

NASDAQ:MMLP opened at $3.97 on Thursday. The firm has a market capitalization of $154.83 million, a PE ratio of 44.11 and a beta of 2.12. The firm has a 50-day moving average price of $3.74 and a 200 day moving average price of $3.42. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The firm had revenue of $170.93 million for the quarter, compared to analyst estimates 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 previous year, the business posted ($0.03) EPS. On average, research analysts expect that Martin Midstream Partners will post 0.16 EPS for the current year.

Institutional Trading of Martin Midstream Partners

An institutional investor recently bought a new position in Martin Midstream Partners stock. Virtu Financial LLC purchased a new stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 34.90% of the company’s stock.

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.