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

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

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP opened at $3.42 on Friday. Martin Midstream Partners has a fifty-two week low of $2.04 and a fifty-two week high of $4.13. The stock’s 50-day simple moving average is $3.95 and its 200-day simple moving average is $3.74. The firm has a market capitalization of $133.38 million, a PE ratio of 34.20 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results 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 for 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 quarter last year, the company earned ($0.03) EPS. On average, sell-side analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Martin Midstream Partners

An institutional investor recently raised its position 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% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 260,833 shares of the pipeline company’s stock after acquiring an additional 30,000 shares during the period. De Lisle Partners LLP owned 0.67% of Martin Midstream Partners worth $953,000 as of its most recent filing with the SEC. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

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.