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

Posted by Latisha Jones on Dec 27th, 2024

Research analysts at StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) in a report released on Thursday. The brokerage set a “buy” rating on the pipeline company’s stock.

Martin Midstream Partners Stock Down 6.5 %

Shares of MMLP stock opened at $3.75 on Thursday. The company’s fifty day simple moving average is $3.99 and its two-hundred day simple moving average is $3.73. Martin Midstream Partners has a 52 week low of $2.04 and a 52 week high of $4.13. The stock has a market cap of $146.25 million, a P/E ratio of 37.50 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) last posted its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) 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 analysts’ expectations of $176.43 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, analysts anticipate that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Midstream Partners

An institutional investor recently raised its position in Martin Midstream Partners stock. De Lisle Partners LLP increased its stake in Martin Midstream Partners L.P. (NASDAQ:MMLP – Free Report) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,833 shares of the pipeline company’s stock after acquiring an additional 30,000 shares during the period. De Lisle Partners LLP owned approximately 0.67% of Martin Midstream Partners worth $953,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

(Get Free Report)

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.