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

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

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock opened at $3.71 on Monday. The stock has a market capitalization of $144.89 million, a P/E ratio of -28.54 and a beta of 2.08. Martin Midstream Partners has a 52-week low of $2.36 and a 52-week high of $4.13. The stock’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $3.76.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (EPS) 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%. Equities research analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MMLP. Nomura Holdings Inc. purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $3,360,000. JPMorgan Chase & Co. increased its holdings 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 period. Nexpoint Asset Management L.P. purchased a new stake in Martin Midstream Partners in the 4th quarter worth approximately $1,636,000. De Lisle Partners LLP lifted its stake in Martin Midstream Partners by 13.0% in the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Gardner Lewis Asset Management L P bought a new position in Martin Midstream Partners in the 4th quarter valued at $824,000. 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.