Equities research analysts at StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) in a research note issued to investors on Tuesday. The firm set a "buy" rating on the pipeline company's stock.
Martin Midstream Partners Price Performance
Martin Midstream Partners stock traded down $0.02 during trading hours on Tuesday, hitting $3.66. 78,964 shares of the stock traded hands, compared to its average volume of 109,807. Martin Midstream Partners has a 1 year low of $2.10 and a 1 year high of $4.13. The stock has a market capitalization of $142.74 million, a price-to-earnings ratio of 36.60 and a beta of 2.10. The firm's 50 day moving average price is $3.71 and its 200-day moving average price is $3.76.
Institutional Investors Weigh In On Martin Midstream Partners
Several hedge funds have recently added to or reduced their stakes in MMLP. Raymond James Financial Inc. purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $124,000. De Lisle Partners LLP lifted its holdings in Martin Midstream Partners by 13.0% in the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company's stock valued at $953,000 after acquiring an additional 30,000 shares during the period. Finally, US Bancorp DE acquired a new position in Martin Midstream Partners in the fourth quarter valued at approximately $32,000. 34.90% of the stock is owned by hedge funds and other institutional investors.
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.
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