Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research report issued to clients and investors on Wednesday. The firm set a “strong-buy” rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

Shares of MMLP opened at $2.65 on Wednesday. The firm has a market capitalization of $103.35 million, a PE ratio of -22.08 and a beta of 2.12. The company’s 50-day moving average is $2.49 and its 200-day moving average is $2.46. Martin Midstream Partners has a fifty-two week low of $1.95 and a fifty-two week high of $3.30.

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

Hedge Funds Weigh In On Martin Midstream Partners

A number of hedge funds have recently bought and sold shares of the business. Raymond James & Associates increased its holdings in Martin Midstream Partners by 351.9% in the 1st quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company’s stock valued at $1,755,000 after buying an additional 325,461 shares during the period. Goldman Sachs Group Inc. increased its holdings in Martin Midstream Partners by 4.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,958,380 shares of the pipeline company’s stock valued at $4,211,000 after buying an additional 91,816 shares during the period. BNP Paribas Arbitrage SA bought a new position in Martin Midstream Partners in the 1st quarter valued at about $379,000. Acadian Asset Management LLC bought a new position in Martin Midstream Partners in the 1st quarter valued at about $140,000. Finally, Victory Capital Management Inc. bought a new position in Martin Midstream Partners in the 4th quarter valued at about $67,000. 34.90% of the stock is owned by 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.