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

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

Martin Midstream Partners Trading Up 2.8 %

MMLP stock opened at $3.63 on Thursday. Martin Midstream Partners has a twelve month low of $2.28 and a twelve month high of $4.13. The company has a market capitalization of $141.53 million, a P/E ratio of -27.91 and a beta of 2.10. The firm has a 50 day simple moving average of $3.63 and a 200-day simple moving average of $3.75.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. On average, research analysts predict that Martin Midstream Partners will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE bought a new position in Martin Midstream Partners during the fourth quarter worth $32,000. Squarepoint Ops LLC bought a new position in Martin Midstream Partners during the fourth quarter worth $36,000. CSS LLC IL bought a new position in Martin Midstream Partners during the fourth quarter worth $100,000. Geode Capital Management LLC lifted its stake in Martin Midstream Partners by 24.9% during the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 5,966 shares during the last quarter. Finally, AGP Franklin LLC bought a new stake in Martin Midstream Partners in the fourth quarter valued at $111,000. 34.90% of the stock is currently owned by institutional investors.

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.