Martin Midstream Partners L.P. (NASDAQ:MMLP) Plans $0.01 Quarterly Dividend

Martin Midstream Partners L.P. (NASDAQ:MMLP) 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.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. The company had revenue of $170.93 million for the quarter, compared to the consensus estimate of $176.43 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. On average, sell-side analysts anticipate that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

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.

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.