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

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

Martin Midstream Partners Stock Performance

Shares of MMLP opened at $3.63 on Thursday. The firm has a market capitalization of $141.53 million, a price-to-earnings ratio of -27.91 and a beta of 2.10. Martin Midstream Partners has a one year low of $2.28 and a one year high of $4.13. The stock’s fifty day moving average is $3.63 and its 200-day moving average is $3.75.

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 net margin of 0.73% and a negative return on equity of 6.93%. Analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MMLP. Nomura Holdings Inc. acquired a new position in Martin Midstream Partners during the fourth quarter worth about $3,360,000. Nexpoint Asset Management L.P. acquired a new position in Martin Midstream Partners during the fourth quarter worth about $1,636,000. Gardner Lewis Asset Management L P acquired a new position in Martin Midstream Partners during the fourth quarter worth about $824,000. JPMorgan Chase & Co. increased its stake in Martin Midstream Partners by 24.4% in the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after purchasing an additional 140,196 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in Martin Midstream Partners in the 4th quarter worth about $233,000. 34.90% of the stock is owned by institutional investors and hedge funds.

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.