StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP – Free Report) in a research report sent to investors on Sunday. The firm issued a buy rating on the pipeline company’s stock.
Martin Midstream Partners Price Performance
Shares of MMLP stock opened at $3.74 on Friday. Martin Midstream Partners has a 1-year low of $2.36 and a 1-year high of $4.13. The stock’s fifty day moving average price is $3.57 and its 200 day moving average price is $3.75. The company has a market cap of $146.07 million, a price-to-earnings ratio of -28.77 and a beta of 2.08.
Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) last announced its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Martin Midstream Partners will post 0.15 earnings per share for the current year.
Martin Midstream Partners Dividend Announcement
Institutional Trading of Martin Midstream Partners
Several large investors have recently added to or reduced their stakes in MMLP. Nomura Holdings Inc. purchased a new stake in Martin Midstream Partners during the 4th quarter valued at about $3,360,000. Nexpoint Asset Management L.P. purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $1,636,000. Gardner Lewis Asset Management L P purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $824,000. Tiptree Advisors LLC purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $524,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Martin Midstream Partners by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after buying an additional 140,196 shares during the last quarter. Hedge funds and other 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.
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