Analysts at StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) in a research report issued to clients and investors on Wednesday. The firm set a "buy" rating on the pipeline company's stock.
Martin Midstream Partners Stock Down 3.3 %
NASDAQ:MMLP traded down $0.12 during mid-day trading on Wednesday, reaching $3.48. 65,068 shares of the stock were exchanged, compared to its average volume of 93,704. The stock has a market capitalization of $135.72 million, a P/E ratio of 34.80 and a beta of 2.10. The company has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $3.76. Martin Midstream Partners has a 1 year low of $2.18 and a 1 year high of $4.13.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. As a group, research analysts predict that Martin Midstream Partners will post 0.12 EPS for the current year.
Institutional Trading of Martin Midstream Partners
A number of large investors have recently made changes to their positions in MMLP. De Lisle Partners LLP increased its holdings in shares of Martin Midstream Partners by 13.0% during the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company's stock worth $953,000 after buying an additional 30,000 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Martin Midstream Partners during the fourth quarter valued at approximately $124,000. Geode Capital Management LLC lifted its position in shares of Martin Midstream Partners by 24.9% during the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company's stock worth $107,000 after purchasing an additional 5,966 shares in the last quarter. Nexpoint Asset Management L.P. acquired a new position in Martin Midstream Partners in the 4th quarter worth $1,636,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Martin Midstream Partners by 24.4% in the fourth 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 in the last quarter. Institutional investors and hedge funds 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.
Featured Articles
Before you consider Martin Midstream Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Martin Midstream Partners wasn't on the list.
While Martin Midstream Partners currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
