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

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

Martin Midstream Partners Trading Up 3.4%

Shares of MMLP traded up $0.07 during midday trading on Wednesday, reaching $2.12. 31,055 shares of the company were exchanged, compared to its average volume of 21,338. Martin Midstream Partners has a 1-year low of $1.76 and a 1-year high of $3.24. The stock has a 50-day moving average price of $2.20 and a 200-day moving average price of $2.40. The company has a market cap of $82.93 million, a price-to-earnings ratio of -5.58 and a beta of 0.51.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Martin Midstream Partners in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.