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

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

Martin Midstream Partners Price Performance

Shares of NASDAQ:MMLP opened at $3.76 on Friday. The business’s 50-day moving average is $3.58 and its 200-day moving average is $3.75. Martin Midstream Partners has a 1 year low of $2.36 and a 1 year high of $4.13. The company has a market capitalization of $146.85 million, a price-to-earnings ratio of -28.92 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (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%. Analysts anticipate that Martin Midstream Partners will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMLP. Tiptree Advisors LLC acquired a new position in shares of Martin Midstream Partners during the fourth quarter worth approximately $524,000. Toronto Dominion Bank bought a new stake in Martin Midstream Partners during the 4th quarter valued at $233,000. CSS LLC IL acquired a new position in Martin Midstream Partners during the fourth quarter worth $100,000. Squarepoint Ops LLC bought a new position in shares of Martin Midstream Partners in the fourth quarter valued at $36,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Martin Midstream Partners during the fourth quarter valued at about $3,360,000. 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.