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

StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a note issued to investors on Tuesday. The brokerage set a “buy” rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

MMLP stock opened at $4.00 on Tuesday. The company has a 50 day simple moving average of $3.68 and a 200 day simple moving average of $3.33. The stock has a market cap of $156.00 million, a price-to-earnings ratio of 44.33 and a beta of 2.12. Martin Midstream Partners has a 1 year low of $2.04 and a 1 year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $184.53 million during the quarter, compared to analysts’ expectations of $193.91 million. Martin Midstream Partners had a net margin of 0.90% and a negative return on equity of 10.46%. During the same period in the prior year, the company earned $0.03 EPS. On average, equities research analysts anticipate that Martin Midstream Partners will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American National Bank acquired a new position in Martin Midstream Partners in the 1st quarter valued at approximately $35,000. Acadian Asset Management LLC acquired a new position in Martin Midstream Partners in the 1st quarter valued at approximately $50,000. Finally, Virtu Financial LLC acquired a new position in Martin Midstream Partners in the 1st quarter valued at approximately $55,000. 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.