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

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

Martin Midstream Partners Trading Down 0.6 %

Shares of NASDAQ:MMLP opened at $3.40 on Friday. Martin Midstream Partners has a 12 month low of $2.04 and a 12 month high of $4.13. The stock has a market cap of $132.60 million, a P/E ratio of 34.00 and a beta of 2.12. The company has a 50 day moving average of $3.94 and a 200 day moving average of $3.74.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. The firm had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. During the same period in the previous year, the company posted ($0.03) EPS. On average, equities analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP lifted its stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 260,833 shares of the pipeline company’s stock after acquiring an additional 30,000 shares during the period. De Lisle Partners LLP owned approximately 0.67% of Martin Midstream Partners worth $953,000 as of its most recent SEC filing. 34.90% of the stock is owned by institutional investors.

About Martin Midstream Partners

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.