Investment analysts at StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) in a note issued to investors on Thursday. The brokerage set a "buy" rating on the pipeline company's stock.
Martin Midstream Partners Price Performance
Martin Midstream Partners stock traded up $0.01 during mid-day trading on Thursday, reaching $2.68. The stock had a trading volume of 77,509 shares, compared to its average volume of 100,991. Martin Midstream Partners has a one year low of $2.50 and a one year high of $4.13. The company has a 50-day moving average price of $3.38 and a two-hundred day moving average price of $3.67. The company has a market capitalization of $104.67 million, a price-to-earnings ratio of -20.61 and a beta of 1.75.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last issued its earnings results on Wednesday, April 16th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $192.54 million during the quarter, compared to the consensus estimate of $187.13 million. Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. During the same quarter in the prior year, the company posted $0.08 EPS. On average, equities research analysts anticipate that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Martin Midstream Partners
Several large investors have recently bought and sold shares of MMLP. Nomura Holdings Inc. purchased a new stake in Martin Midstream Partners during the fourth quarter valued at $3,360,000. Nexpoint Asset Management L.P. bought a new position in shares of Martin Midstream Partners during the 4th quarter valued at approximately $1,636,000. Gardner Lewis Asset Management L P purchased a new stake in Martin Midstream Partners in the 4th quarter worth approximately $824,000. Tiptree Advisors LLC purchased a new stake in Martin Midstream Partners in the 4th quarter worth approximately $524,000. Finally, JPMorgan Chase & Co. raised its stake in Martin Midstream Partners by 24.4% during the 4th 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 during the period. 34.90% of the stock is currently owned by 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.
Further Reading
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
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
