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

Research analysts at StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a report released on Friday. The brokerage set a “buy” rating on the pipeline company’s stock.

Martin Midstream Partners Trading Down 0.6 %

MMLP opened at $3.40 on Friday. Martin Midstream Partners has a 12 month low of $2.04 and a 12 month high of $4.13. The business’s 50-day moving average price is $3.94 and its 200-day moving average price is $3.74. The company has a market cap of $132.60 million, a P/E ratio of 34.00 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The company had revenue of $170.93 million during the quarter, compared to analysts’ expectations of $176.43 million. Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. During the same period last year, the firm earned ($0.03) earnings per share. Equities research analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal 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 boosted its holdings in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,833 shares of the pipeline company’s stock after purchasing an additional 30,000 shares during the period. De Lisle Partners LLP owned about 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent reporting period. 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.