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

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

Martin Midstream Partners Stock Up 7.3 %

Shares of MMLP opened at $2.65 on Wednesday. The business’s 50-day moving average price is $2.49 and its 200-day moving average price is $2.46. Martin Midstream Partners has a twelve month low of $1.95 and a twelve month high of $3.30. The stock has a market cap of $103.35 million, a PE ratio of -22.08 and a beta of 2.12.

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

Institutional Investors Weigh In On Martin Midstream Partners

Several hedge funds and other institutional investors have recently modified their holdings of MMLP. American National Bank bought a new stake in shares of Martin Midstream Partners during the first quarter valued at about $35,000. Citadel Advisors LLC bought a new position in shares of Martin Midstream Partners in the third quarter worth approximately $39,000. Jane Street Group LLC bought a new position in shares of Martin Midstream Partners in the fourth quarter worth approximately $43,000. HighTower Advisors LLC increased its position in shares of Martin Midstream Partners by 59.8% in the fourth quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 6,016 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Martin Midstream Partners in the fourth quarter worth approximately $67,000. 34.90% of the stock is currently 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.