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

StockNews.com initiated 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 Price Performance

Shares of NASDAQ MMLP opened at $3.75 on Friday. The firm has a fifty day moving average price of $3.58 and a 200-day moving average price of $3.75. Martin Midstream Partners has a 1 year low of $2.28 and a 1 year high of $4.13. The stock has a market cap of $146.25 million, a PE ratio of -28.84 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. On average, research analysts expect that Martin Midstream Partners will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE bought a new position in shares of Martin Midstream Partners during the fourth quarter worth $32,000. Squarepoint Ops LLC bought a new position in Martin Midstream Partners during the fourth quarter valued at $36,000. CSS LLC IL bought a new position in Martin Midstream Partners during the fourth quarter valued at $100,000. Geode Capital Management LLC lifted its position in Martin Midstream Partners by 24.9% during the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 5,966 shares during the last quarter. Finally, AGP Franklin LLC bought a new position in Martin Midstream Partners during the fourth quarter valued at $111,000. 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.