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

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

Martin Midstream Partners Stock Performance

MMLP stock opened at $3.60 on Wednesday. The firm has a 50 day moving average price of $3.68 and a 200-day moving average price of $3.76. Martin Midstream Partners has a 52-week low of $2.10 and a 52-week high of $4.13. The firm has a market capitalization of $140.40 million, a price-to-earnings ratio of 36.00 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.25). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. As a group, sell-side analysts forecast that Martin Midstream Partners will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Midstream Partners

Several institutional investors and hedge funds have recently made changes to their positions in MMLP. Gardner Lewis Asset Management L P bought a new stake in shares of Martin Midstream Partners during the fourth quarter valued at approximately $824,000. JPMorgan Chase & Co. increased its position in shares of Martin Midstream Partners by 24.4% during the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock valued at $2,563,000 after acquiring an additional 140,196 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Martin Midstream Partners during the fourth quarter valued at approximately $124,000. AGP Franklin LLC bought a new stake in shares of Martin Midstream Partners during the fourth quarter valued at approximately $111,000. Finally, De Lisle Partners LLP increased 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 valued at $953,000 after acquiring an additional 30,000 shares in the last quarter. 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.