Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated by Analysts at StockNews.com

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

Martin Midstream Partners Trading Up 0.5 %

Shares of NASDAQ:MMLP opened at $3.76 on Friday. The stock has a market cap of $146.85 million, a PE ratio of -28.92 and a beta of 2.08. The stock’s fifty day simple moving average is $3.58 and its two-hundred day simple moving average is $3.75. Martin Midstream Partners has a 1-year low of $2.36 and a 1-year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly 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 net margin of 0.73% and a negative return on equity of 6.93%. On average, sell-side analysts forecast that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Holdings Inc. bought a new stake in shares of Martin Midstream Partners during the 4th quarter worth $3,360,000. Nexpoint Asset Management L.P. bought a new stake in Martin Midstream Partners in the fourth quarter worth about $1,636,000. Gardner Lewis Asset Management L P bought a new stake in Martin Midstream Partners in the fourth quarter worth about $824,000. Tiptree Advisors LLC purchased a new position in Martin Midstream Partners in the fourth quarter valued at about $524,000. Finally, JPMorgan Chase & Co. grew its position in shares of Martin Midstream Partners by 24.4% during the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock valued at $2,563,000 after acquiring an additional 140,196 shares during the period. Hedge funds and other 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.