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

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

Martin Midstream Partners Stock Performance

NASDAQ MMLP opened at $3.97 on Friday. The business’s 50 day moving average price is $3.84 and its 200-day moving average price is $3.54. Martin Midstream Partners has a fifty-two week low of $2.04 and a fifty-two week high of $4.13. The company has a market cap of $154.83 million, a P/E ratio of 39.70 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $170.93 million for the quarter, compared to the consensus estimate of $176.43 million. Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. During the same quarter last year, the firm earned ($0.03) EPS. As a group, equities analysts predict that Martin Midstream Partners will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

Several hedge funds have recently bought and sold shares of MMLP. De Lisle Partners LLP lifted its position in shares of Martin Midstream Partners by 13.0% during the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Martin Midstream Partners in the first quarter worth about $55,000. Finally, Acadian Asset Management LLC purchased a new position in Martin Midstream Partners in the 1st quarter worth about $50,000. 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.