Weiss Ratings Reaffirms "Sell (D)" Rating for Martin Midstream Partners (NASDAQ:MMLP)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D)" rating for Martin Midstream Partners (NASDAQ:MMLP), indicating a negative outlook on the company's stock.
• Martin Midstream Partners reported a loss of $0.06 EPS in its most recent earnings, missing the consensus estimate by $0.14, and revenue also fell short of expectations.
• Institutional investors currently hold 34.90% of the stock, with several entities acquiring new positions in the company during the second quarter.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report)'s stock had its "sell (d)" rating reissued by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Martin Midstream Partners Stock Performance

MMLP stock opened at $3.17 on Wednesday. Martin Midstream Partners has a 52 week low of $2.56 and a 52 week high of $4.02. The firm's fifty day moving average is $3.22 and its 200 day moving average is $3.09. The firm has a market cap of $123.80 million, a P/E ratio of -8.13 and a beta of 0.55.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The pipeline company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.14). The business had revenue of $180.68 million during the quarter, compared to analyst estimates of $199.39 million. As a group, analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Meriwether Wealth & Planning LLC acquired a new position in Martin Midstream Partners during the second quarter worth $30,000. Ipsen Advisor Group LLC acquired a new position in shares of Martin Midstream Partners during the 2nd quarter worth about $34,000. Pettinga Financial Advisors LLC acquired a new stake in shares of Martin Midstream Partners in the 1st quarter valued at about $43,000. US Bancorp DE boosted its position in shares of Martin Midstream Partners by 55.6% in the 1st quarter. US Bancorp DE now owns 14,000 shares of the pipeline company's stock valued at $50,000 after purchasing an additional 5,000 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in Martin Midstream Partners during the 2nd quarter worth approximately $99,000. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

About Martin Midstream Partners

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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