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

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

Martin Midstream Partners Stock Performance

Shares of NASDAQ:MMLP opened at $3.65 on Friday. The firm has a market cap of $142.55 million, a price-to-earnings ratio of -28.07 and a beta of 2.08. The firm has a fifty day moving average price of $3.56 and a 200 day moving average price of $3.75. Martin Midstream Partners has a fifty-two week low of $2.36 and a fifty-two week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data 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 net margin of 0.73% and a negative return on equity of 6.93%. As a group, research analysts predict that Martin Midstream Partners will post 0.15 earnings per share for the current year.

Institutional Trading of Martin Midstream Partners

Hedge funds have recently modified their holdings of the company. US Bancorp DE bought a new stake in Martin Midstream Partners in the fourth quarter worth $32,000. Squarepoint Ops LLC purchased a new position in shares of Martin Midstream Partners in the 4th quarter worth $36,000. CSS LLC IL bought a new stake in shares of Martin Midstream Partners in the 4th quarter worth about $100,000. Geode Capital Management LLC raised its position in shares of Martin Midstream Partners by 24.9% during the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock valued at $107,000 after buying an additional 5,966 shares in the last quarter. Finally, AGP Franklin LLC bought a new position in shares of Martin Midstream Partners in the 4th quarter valued at about $111,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

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.