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

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

Martin Midstream Partners Trading Up 1.4 %

MMLP stock opened at $3.71 on Monday. The company’s 50 day moving average is $3.63 and its 200 day moving average is $3.76. The stock has a market cap of $144.89 million, a price-to-earnings ratio of -28.54 and a beta of 2.08. 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 issued its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) EPS 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%. As a group, sell-side analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Midstream Partners

Several institutional investors have recently modified their holdings of the company. US Bancorp DE bought a new stake in Martin Midstream Partners in the 4th quarter worth approximately $32,000. De Lisle Partners LLP raised its stake in shares of Martin Midstream Partners by 13.0% during the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after acquiring an additional 30,000 shares in the last quarter. Tiptree Advisors LLC bought a new stake in shares of Martin Midstream Partners in the 4th quarter worth approximately $524,000. Toronto Dominion Bank purchased a new stake in shares of Martin Midstream Partners in the 4th quarter valued at $233,000. Finally, CSS LLC IL bought a new position in shares of Martin Midstream Partners during the 4th quarter valued at $100,000. 34.90% of the stock is currently owned by institutional investors.

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.