Martin Midstream Partners (NASDAQ:MMLP) Now Covered by StockNews.com

StockNews.com initiated 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

Shares of MMLP opened at $4.00 on Wednesday. The company has a 50-day simple moving average of $3.99 and a 200-day simple moving average of $3.70. Martin Midstream Partners has a 52 week low of $2.04 and a 52 week high of $4.13. The firm has a market capitalization of $156.00 million, a P/E ratio of 40.00 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) 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 firm had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. During the same period last year, the business earned ($0.03) earnings per share. As a group, equities analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP lifted its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 260,833 shares of the pipeline company’s stock after acquiring an additional 30,000 shares during the quarter. De Lisle Partners LLP owned approximately 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent reporting period. Hedge funds and other 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.