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

Equities researchers at StockNews.com assumed 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

Shares of Martin Midstream Partners stock opened at $4.00 on Friday. Martin Midstream Partners has a 1 year low of $2.04 and a 1 year high of $4.13. The firm’s 50-day moving average is $3.88 and its 200 day moving average is $3.58. The stock has a market cap of $156.00 million, a price-to-earnings ratio of 40.00 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The firm 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 quarter in the prior year, the company posted ($0.03) EPS. On average, equities analysts expect that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Midstream Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. De Lisle Partners LLP boosted its stake 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 buying an additional 30,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Martin Midstream Partners in the 1st quarter worth approximately $55,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Martin Midstream Partners in the first quarter worth approximately $50,000. Hedge funds and other institutional investors 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.