StockNews.com Initiates Coverage on Martin Midstream Partners (NASDAQ:MMLP)

Stock analysts at StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a note issued to investors on Wednesday. The firm set a “strong-buy” rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Shares of MMLP opened at $2.66 on Wednesday. The stock has a 50 day simple moving average of $2.51 and a 200 day simple moving average of $2.46. Martin Midstream Partners has a 52-week low of $1.95 and a 52-week high of $3.30. The firm has a market capitalization of $103.74 million, a PE ratio of -22.17 and a beta of 2.12.

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

Institutional Investors Weigh In On Martin Midstream Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates increased its position in Martin Midstream Partners by 3.3% during the 3rd quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock worth $1,687,000 after buying an additional 19,194 shares during the period. JPMorgan Chase & Co. boosted its stake in Martin Midstream Partners by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 558,599 shares of the pipeline company’s stock valued at $1,190,000 after buying an additional 7,726 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Martin Midstream Partners by 35.5% during the second quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock valued at $486,000 after purchasing an additional 31,999 shares in the last quarter. UBS Group AG boosted its stake in shares of Martin Midstream Partners by 10.6% during the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 4,028 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Martin Midstream Partners during the first quarter valued at about $140,000. 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.