Martin Midstream Partners (NASDAQ:MMLP) Earns Buy Rating from Analysts at StockNews.com

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

Martin Midstream Partners Stock Performance

Shares of NASDAQ:MMLP opened at $3.98 on Thursday. The firm has a market capitalization of $155.22 million, a P/E ratio of 39.80 and a beta of 2.12. The stock has a 50 day moving average price of $3.75 and a 200-day moving average price of $3.43. Martin Midstream Partners has a 52-week low of $2.04 and a 52-week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. The firm had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. During the same quarter last year, the company posted ($0.03) EPS. On average, equities analysts forecast that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Institutional Trading of Martin Midstream Partners

A hedge fund recently bought a new stake in Martin Midstream Partners stock. Acadian Asset Management LLC acquired a new stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,959 shares of the pipeline company’s stock, valued at approximately $50,000. Acadian Asset Management LLC owned about 0.05% of Martin Midstream Partners at the end of the most recent quarter. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

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.