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

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

Martin Midstream Partners Price Performance

Shares of NASDAQ MMLP opened at $4.01 on Thursday. Martin Midstream Partners has a 52-week low of $2.04 and a 52-week high of $4.13. The stock has a market capitalization of $156.39 million, a price-to-earnings ratio of 40.10 and a beta of 2.10. The stock’s fifty day simple moving average is $3.99 and its 200 day simple moving average is $3.72.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data 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 company had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. As a group, analysts anticipate that Martin Midstream Partners will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

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% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent quarter. 34.90% of the stock is currently owned by institutional investors and hedge funds.

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.