Martin Midstream Partners (NASDAQ:MMLP) Now Covered by StockNews.com

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

Martin Midstream Partners Trading Down 5.5 %

Shares of Martin Midstream Partners stock opened at $2.77 on Wednesday. Martin Midstream Partners has a 12 month low of $2.36 and a 12 month high of $4.13. The company has a market capitalization of $108.18 million, a PE ratio of -21.31 and a beta of 1.75. The stock’s fifty day simple moving average is $3.58 and its 200 day simple moving average is $3.74.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data 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 net margin of 0.73% and a negative return on equity of 6.93%. Analysts predict that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Midstream Partners

Several institutional investors have recently added to or reduced their stakes in MMLP. Nomura Holdings Inc. bought a new position in Martin Midstream Partners during the 4th quarter worth about $3,360,000. Nexpoint Asset Management L.P. bought a new position in shares of Martin Midstream Partners during the fourth quarter worth about $1,636,000. Gardner Lewis Asset Management L P acquired a new stake in Martin Midstream Partners in the 4th quarter valued at approximately $824,000. Tiptree Advisors LLC bought a new stake in Martin Midstream Partners in the 4th quarter valued at approximately $524,000. Finally, JPMorgan Chase & Co. boosted its position in Martin Midstream Partners by 24.4% during the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after acquiring an additional 140,196 shares during the last quarter. 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.