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 research note released on Sunday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Trading Down 2.4 %

MMLP stock opened at $3.67 on Friday. Martin Midstream Partners has a one year low of $2.36 and a one year high of $4.13. The firm has a 50-day moving average of $3.59 and a two-hundred day moving average of $3.75. The firm has a market capitalization of $143.33 million, a PE ratio of -28.23 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. On average, equities research analysts anticipate that Martin Midstream Partners will post 0.15 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a dividend of $0.005 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.02 annualized dividend and a yield of 0.54%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -15.38%.

Institutional Trading of Martin Midstream Partners

Institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new stake in Martin Midstream Partners in the 4th quarter worth approximately $3,360,000. Nexpoint Asset Management L.P. purchased a new stake in shares of Martin Midstream Partners during the fourth quarter worth $1,636,000. Gardner Lewis Asset Management L P acquired a new stake in Martin Midstream Partners during the fourth quarter valued at $824,000. Tiptree Advisors LLC purchased a new position in Martin Midstream Partners in the fourth quarter valued at about $524,000. Finally, JPMorgan Chase & Co. grew its stake in Martin Midstream Partners by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock valued at $2,563,000 after purchasing an additional 140,196 shares in the last quarter. 34.90% of the stock is currently owned by institutional investors and hedge funds.

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.