Martin Midstream Partners (NASDAQ:MMLP) Posts Quarterly Earnings Results

Martin Midstream Partners (NASDAQ:MMLP) announced its earnings results on Wednesday. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, Zacks reports.

Martin Midstream Partners Stock Performance

NASDAQ MMLP traded up $0.12 during trading on Wednesday, reaching $2.46. The company’s stock had a trading volume of 14,924 shares, compared to its average volume of 23,858. The business’s fifty day moving average price is $2.44 and its 200-day moving average price is $2.64. Martin Midstream Partners has a twelve month low of $1.89 and a twelve month high of $3.54. The firm has a market cap of $96.25 million, a price-to-earnings ratio of -4.82 and a beta of 0.50.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commerce Bank acquired a new position in Martin Midstream Partners in the 4th quarter valued at about $28,000. Citadel Advisors LLC acquired a new stake in Martin Midstream Partners during the 3rd quarter worth approximately $41,000. Jane Street Group LLC grew its stake in shares of Martin Midstream Partners by 139.3% in the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after purchasing an additional 14,010 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of Martin Midstream Partners by 298.9% in the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 33,064 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Martin Midstream Partners by 7.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 7,596 shares during the period. Hedge funds and other institutional investors own 34.90% of the company’s stock.

About Martin Midstream Partners

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.