Martin Midstream Partners (NASDAQ:MMLP) Now Covered by StockNews.com

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

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP opened at $3.97 on Friday. Martin Midstream Partners has a fifty-two week low of $2.04 and a fifty-two week high of $4.13. The company has a market cap of $154.83 million, a PE ratio of 39.70 and a beta of 2.10. The business has a 50-day simple moving average of $3.84 and a two-hundred day simple moving average of $3.54.

Martin Midstream Partners (NASDAQ:MMLP) last released its 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 negative return on equity of 6.93% and a net margin of 0.59%. The company had revenue of $170.93 million during the quarter, compared to analyst estimates of $176.43 million. During the same quarter last year, the business earned ($0.03) earnings per share. On average, 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 announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.005 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.50%. Martin Midstream Partners’s dividend payout ratio (DPR) is 20.00%.

Institutional Trading of Martin Midstream Partners

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Martin Midstream Partners during the first quarter worth about $55,000. Acadian Asset Management LLC acquired a new position in Martin Midstream Partners in the 1st quarter worth approximately $50,000. Finally, De Lisle Partners LLP raised its position in Martin Midstream Partners by 13.0% during the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 34.90% of the company’s stock.

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.