Martin Midstream Partners (NASDAQ:MMLP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a report issued on Thursday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Trading Down 6.5 %

NASDAQ MMLP opened at $3.75 on Thursday. Martin Midstream Partners has a 12 month low of $2.04 and a 12 month high of $4.13. The company has a market capitalization of $146.25 million, a PE ratio of 37.50 and a beta of 2.10. The stock has a 50-day simple moving average of $3.98 and a 200 day simple moving average of $3.73.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $176.43 million. During the same period last year, the company earned ($0.03) earnings per share. As a group, sell-side analysts predict that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.005 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.53%. Martin Midstream Partners’s dividend payout ratio is 20.00%.

Institutional Trading of Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP raised its holdings in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 260,833 shares of the pipeline company’s stock after acquiring an additional 30,000 shares during the period. De Lisle Partners LLP owned about 0.67% of Martin Midstream Partners worth $953,000 as of its most recent filing with the Securities and Exchange Commission. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Martin Midstream Partners Company Profile

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.