Martin Midstream Partners (NASDAQ:MMLP) Issues Earnings Results
Martin Midstream Partners (NASDAQ:MMLP) reported a quarterly EPS of ($0.21), reflecting a decline in earnings. The stock fell 2.2% to $3.09, with a trading volume of 12,770 shares. Institutional investors own 34.90% of the stock, with Bank of America increasing its stake by 216.0%. Weiss Ratings maintained a 'sell' rating, and the stock has a consensus rating of 'Sell'. Martin Midstream provides services for petroleum products in the U.S. and operates in four segments: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) issued its earnings results on Wednesday. The pipeline company reported ($0.21) earnings per share (EPS) for the quarter, Zacks reports.
Martin Midstream Partners Trading Down 2.2%
MMLP traded down $0.07 during trading on Wednesday, hitting $3.09. The stock had a trading volume of 12,770 shares, compared to its average volume of 58,954. Martin Midstream Partners has a 12 month low of $2.56 and a 12 month high of $4.02. The company has a 50 day simple moving average of $3.23 and a 200-day simple moving average of $3.07. The firm has a market cap of $120.68 million, a PE ratio of -7.92 and a beta of 0.55.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Martin Midstream Partners stock. Bank of America Corp DE boosted its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP - Free Report) by 216.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,020 shares of the pipeline company's stock after acquiring an additional 397,163 shares during the quarter. Bank of America Corp DE owned 1.49% of Martin Midstream Partners worth $1,714,000 at the end of the most recent reporting period. 34.90% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "sell (d)" rating on shares of Martin Midstream Partners in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".
Get Our Latest Stock Analysis on MMLP
About Martin Midstream Partners
(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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