Martin Midstream Partners (NASDAQ:MMLP) Posts Earnings Results, Hits Estimates

Martin Midstream Partners (NASDAQ:MMLP) posted its earnings results on Wednesday. The pipeline company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10), Zacks reports.

Martin Midstream Partners Stock Up 3.4%

Shares of Martin Midstream Partners stock traded up $0.07 on Wednesday, hitting $2.12. 31,055 shares of the company’s stock traded hands, compared to its average volume of 21,338. The stock has a market cap of $82.93 million, a P/E ratio of -5.58 and a beta of 0.51. The firm’s 50-day moving average is $2.20 and its 200 day moving average is $2.40. Martin Midstream Partners has a 52-week low of $1.76 and a 52-week high of $3.24.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Martin Midstream Partners in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Martin Midstream Partners has an average rating of “Reduce” and a consensus price target of $3.00.

About Martin Midstream Partners

Martin Midstream Partners, L.P. was a publicly traded master limited partnership focused on the gathering, processing, storage, transportation and marketing of petroleum products and related materials. The partnership operated assets serving energy producers, refiners, chemical manufacturers and other industrial customers.

Its business activities included terminal and storage services, marine and inland transportation, natural gas liquids operations, sulfur services and specialty products.