Martin Midstream Partners L.P. (NASDAQ:MMLP – Get Free Report) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.005 per share by the pipeline company on Thursday, November 14th. This represents a $0.02 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, November 7th.
Martin Midstream Partners has decreased its dividend payment by an average of 47.1% per year over the last three years. Martin Midstream Partners has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Martin Midstream Partners to earn $0.23 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 8.7%.
Martin Midstream Partners Price Performance
Shares of NASDAQ:MMLP opened at $3.96 on Wednesday. Martin Midstream Partners has a 1-year low of $2.04 and a 1-year high of $4.13. The business has a fifty day moving average price of $3.77 and a 200-day moving average price of $3.47. The company has a market capitalization of $154.44 million, a PE ratio of 39.60 and a beta of 2.10.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on Martin Midstream Partners in a research report on Thursday, October 31st. They set a “buy” rating on the stock.
View Our Latest Stock Report on MMLP
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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