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

Investment analysts at StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note issued on Wednesday. The firm set a “strong-buy” rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

Shares of NASDAQ MMLP opened at $2.66 on Wednesday. Martin Midstream Partners has a 1-year low of $1.95 and a 1-year high of $3.30. The business’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.46. The firm has a market capitalization of $103.74 million, a PE ratio of -22.17 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $177.85 million. Equities research analysts expect that Martin Midstream Partners will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Midstream Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in shares of Martin Midstream Partners during the 3rd quarter worth about $39,000. American National Bank bought a new position in shares of Martin Midstream Partners in the 1st quarter valued at approximately $35,000. Jane Street Group LLC bought a new position in shares of Martin Midstream Partners in the 4th quarter valued at approximately $43,000. HighTower Advisors LLC raised its stake in shares of Martin Midstream Partners by 59.8% in the 4th quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 6,016 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Martin Midstream Partners in the 4th quarter valued at approximately $67,000. 34.90% of the stock is owned by hedge funds and other 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.