StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP – Free Report) in a research note released on Wednesday. The brokerage issued a strong-buy rating on the pipeline company’s stock.
Martin Midstream Partners Price Performance
MMLP stock opened at $2.74 on Wednesday. The company has a 50 day moving average price of $2.50 and a 200 day moving average price of $2.46. Martin Midstream Partners has a fifty-two week low of $1.95 and a fifty-two week high of $3.30. The stock has a market capitalization of $106.86 million, a PE ratio of -22.83 and a beta of 2.12.
Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $181.10 million for the quarter, compared to the consensus estimate of $177.85 million. As a group, equities analysts expect that Martin Midstream Partners will post 0.11 earnings per share for the current fiscal year.
Martin Midstream Partners Announces Dividend
Institutional Investors Weigh In On Martin Midstream Partners
Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in Martin Midstream Partners by 4.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,958,380 shares of the pipeline company’s stock worth $4,211,000 after acquiring an additional 91,816 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Martin Midstream Partners by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock worth $2,748,000 after purchasing an additional 2,458 shares during the period. Raymond James & Associates grew its stake in shares of Martin Midstream Partners by 3.3% during the third quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock worth $1,687,000 after purchasing an additional 19,194 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Martin Midstream Partners by 35.5% in the second quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock valued at $486,000 after purchasing an additional 31,999 shares during the last quarter. Finally, UBS Group AG lifted its stake in Martin Midstream Partners by 10.6% in the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after buying an additional 4,028 shares during the period. Institutional investors and hedge funds 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.
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