Martin Midstream Partners (NASDAQ:MMLP) Issues Earnings Results

Martin Midstream Partners (NASDAQ:MMLP) announced its quarterly earnings data on Wednesday. The pipeline company reported $0.07 earnings per share for the quarter, Zacks reports. The business had revenue of $213.60 million during the quarter.

Martin Midstream Partners Stock Up 5.1%

Shares of NASDAQ MMLP traded up $0.12 during midday trading on Wednesday, hitting $2.46. The company had a trading volume of 14,924 shares, compared to its average volume of 23,858. The firm has a market capitalization of $96.25 million, a price-to-earnings ratio of -4.82 and a beta of 0.50. Martin Midstream Partners has a twelve month low of $1.89 and a twelve month high of $3.54. The business has a 50-day simple moving average of $2.44 and a two-hundred day simple moving average of $2.64.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership boosted its stake in shares of Martin Midstream Partners by 7.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock worth $300,000 after acquiring an additional 7,596 shares in the last quarter. Commerce Bank purchased a new position in Martin Midstream Partners in the 4th quarter valued at approximately $28,000. Jane Street Group LLC raised its holdings in Martin Midstream Partners by 139.3% during the fourth quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock worth $63,000 after purchasing an additional 14,010 shares during the last quarter. Susquehanna International Group LLP raised its holdings in Martin Midstream Partners by 298.9% during the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 33,064 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Martin Midstream Partners during the third quarter worth $41,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Martin Midstream Partners in a report on Friday, May 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $3.00.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.