StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP – Free Report) in a research report sent to investors on Wednesday morning. The firm issued a strong-buy rating on the pipeline company’s stock.
Martin Midstream Partners Stock Up 3.4 %
NASDAQ:MMLP opened at $2.74 on Wednesday. The stock has a fifty day simple moving average of $2.50 and a 200 day simple moving average of $2.46. The firm has a market capitalization of $106.86 million, a price-to-earnings ratio of -22.83 and a beta of 2.12. Martin Midstream Partners has a 1-year low of $1.95 and a 1-year high of $3.30.
Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The firm had revenue of $181.10 million during the quarter, compared to analyst estimates of $177.85 million. Equities analysts predict that Martin Midstream Partners will post 0.11 earnings per share for the current year.
Martin Midstream Partners Dividend Announcement
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. American National Bank acquired a new stake in shares of Martin Midstream Partners during the first quarter worth approximately $35,000. Citadel Advisors LLC acquired a new stake in shares of Martin Midstream Partners during the 3rd quarter valued at $39,000. Jane Street Group LLC purchased a new position in shares of Martin Midstream Partners during the 4th quarter valued at $43,000. HighTower Advisors LLC increased its stake in shares of Martin Midstream Partners by 59.8% in the fourth quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 6,016 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Martin Midstream Partners during the fourth quarter worth $67,000. 34.90% of the stock is owned by institutional investors and hedge funds.
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.
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