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

Research analysts at StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research report issued to clients and investors on Saturday. The brokerage set a “buy” rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock opened at $3.05 on Friday. The company’s 50 day simple moving average is $3.28 and its 200-day simple moving average is $3.61. Martin Midstream Partners has a 1 year low of $2.56 and a 1 year high of $4.13. The company has a market capitalization of $119.12 million, a price-to-earnings ratio of -23.46 and a beta of 1.75.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, April 16th. The pipeline company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $192.54 million during the quarter, compared to analysts’ expectations of $187.13 million. Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. During the same period in the previous year, the business posted $0.08 EPS. Equities analysts expect that Martin Midstream Partners will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds have recently made changes to their positions in the company. US Bancorp DE purchased a new position in Martin Midstream Partners during the 4th quarter worth approximately $32,000. Raymond James Financial Inc. acquired a new position in shares of Martin Midstream Partners in the 4th quarter valued at $124,000. JPMorgan Chase & Co. raised its position 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 valued at $2,563,000 after purchasing an additional 140,196 shares during the last quarter. Gardner Lewis Asset Management L P acquired a new stake in Martin Midstream Partners during the 4th quarter worth $824,000. Finally, Geode Capital Management LLC grew its position in Martin Midstream Partners by 24.9% during the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 5,966 shares during the last quarter. Hedge funds and other institutional investors own 34.90% of the company’s stock.

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.