Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started 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 NASDAQ:MMLP opened at $3.74 on Friday. Martin Midstream Partners has a one year low of $2.36 and a one year high of $4.13. The company has a 50 day moving average of $3.57 and a 200-day moving average of $3.75. The stock has a market cap of $146.07 million, a price-to-earnings ratio of -28.77 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) EPS for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that Martin Midstream Partners will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors have recently modified their holdings of the business. US Bancorp DE acquired a new position in Martin Midstream Partners during the fourth quarter valued at approximately $32,000. Squarepoint Ops LLC acquired a new position in Martin Midstream Partners during the fourth quarter valued at approximately $36,000. CSS LLC IL acquired a new position in Martin Midstream Partners during the fourth quarter valued at approximately $100,000. Geode Capital Management LLC grew its holdings 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 valued at $107,000 after purchasing an additional 5,966 shares during the period. Finally, AGP Franklin LLC acquired a new position in Martin Midstream Partners during the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

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.