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

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

Martin Midstream Partners Price Performance

MMLP opened at $3.59 on Tuesday. Martin Midstream Partners has a 1-year low of $2.04 and a 1-year high of $4.13. The company has a 50 day simple moving average of $3.73 and a two-hundred day simple moving average of $3.76. The firm has a market cap of $140.01 million, a P/E ratio of 35.90 and a beta of 2.10.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP raised its position in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,833 shares of the pipeline company’s stock after purchasing an additional 30,000 shares during the quarter. De Lisle Partners LLP owned 0.67% of Martin Midstream Partners worth $953,000 as of its most recent SEC filing. 34.90% of the stock is currently owned by institutional investors and hedge funds.

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.