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

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

Martin Midstream Partners Trading Down 0.5 %

MMLP opened at $3.97 on Friday. The business’s fifty day simple moving average is $3.84 and its 200-day simple moving average is $3.54. The company has a market capitalization of $154.83 million, a price-to-earnings ratio of 39.70 and a beta of 2.10. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13.

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

Institutional Investors Weigh In On Martin Midstream Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in Martin Midstream Partners in the first quarter worth about $50,000. Virtu Financial LLC purchased a new position in shares of Martin Midstream Partners in the 1st quarter worth approximately $55,000. Finally, De Lisle Partners LLP raised its stake in shares of Martin Midstream Partners by 13.0% during the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after acquiring an additional 30,000 shares in the last quarter. Institutional investors 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.