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

Posted by ABMN Staff on Nov 16th, 2024

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

Martin Midstream Partners Price Performance

Shares of NASDAQ MMLP opened at $3.97 on Friday. The stock has a market cap of $154.83 million, a PE ratio of 39.70 and a beta of 2.10. Martin Midstream Partners has a 1 year low of $2.04 and a 1 year high of $4.13. The firm has a fifty day moving average price of $3.84 and a 200-day moving average price of $3.53.

Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $176.43 million. During the same period last year, the company earned ($0.03) EPS. On average, research analysts expect that Martin Midstream Partners will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Martin Midstream Partners in the first quarter worth about $50,000. Virtu Financial LLC bought a new position in shares of Martin Midstream Partners in the first quarter worth about $55,000. Finally, De Lisle Partners LLP grew its holdings in shares of Martin Midstream Partners by 13.0% in the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors own 34.90% of the company’s stock.

About Martin Midstream Partners

(Get Free Report)

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.