Martin Midstream Partners (NASDAQ:MMLP) Announces Earnings Results

Martin Midstream Partners (NASDAQ:MMLP) announced its quarterly earnings data on Wednesday. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10), Zacks reports.

Martin Midstream Partners Stock Up 3.4%

Martin Midstream Partners stock traded up $0.07 during mid-day trading on Wednesday, hitting $2.12. 31,055 shares of the company’s stock were exchanged, compared to its average volume of 21,338. The company’s 50 day simple moving average is $2.20 and its 200-day simple moving average is $2.40. The firm has a market capitalization of $82.93 million, a P/E ratio of -5.58 and a beta of 0.51. Martin Midstream Partners has a fifty-two week low of $1.76 and a fifty-two week high of $3.24.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Martin Midstream Partners in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Martin Midstream Partners presently has a consensus rating of “Reduce” and an average target price of $3.00.

About Martin Midstream Partners

Martin Midstream Partners, L.P. was a publicly traded master limited partnership focused on the gathering, processing, storage, transportation and marketing of petroleum products and related materials. The partnership operated assets serving energy producers, refiners, chemical manufacturers and other industrial customers.

Its business activities included terminal and storage services, marine and inland transportation, natural gas liquids operations, sulfur services and specialty products.