Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated by Analysts at StockNews.com

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

Martin Midstream Partners Stock Down 3.3 %

Shares of NASDAQ MMLP opened at $2.65 on Thursday. The company has a market capitalization of $103.50 million, a PE ratio of -20.38 and a beta of 1.75. The stock’s 50 day moving average price is $3.46 and its 200-day moving average price is $3.70. Martin Midstream Partners has a twelve month low of $2.40 and a twelve month high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, April 16th. The pipeline company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $192.54 million during the quarter, compared to analysts’ expectations of $187.13 million. Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. During the same period in the prior year, the firm posted $0.08 EPS. As a group, research analysts expect that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be issued a dividend of $0.005 per share. The ex-dividend date is Thursday, May 8th. This represents a $0.02 dividend on an annualized basis and a yield of 0.75%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -15.38%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Martin Midstream Partners in the 4th quarter worth approximately $124,000. US Bancorp DE purchased a new stake in Martin Midstream Partners in the fourth quarter worth $32,000. Gardner Lewis Asset Management L P purchased a new stake in Martin Midstream Partners in the fourth quarter worth $824,000. AGP Franklin LLC bought a new stake in shares of Martin Midstream Partners in the fourth quarter valued at $111,000. Finally, Toronto Dominion Bank purchased a new position in shares of Martin Midstream Partners during the 4th quarter valued at $233,000. 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.