Martin Midstream Partners (NASDAQ:MMLP) Research Coverage Started at StockNews.com

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

Martin Midstream Partners Trading Down 0.2 %

Shares of NASDAQ MMLP opened at $3.99 on Friday. The stock has a market cap of $155.61 million, a PE ratio of 40.00 and a beta of 2.10. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13. The company has a 50-day moving average of $3.89 and a 200 day moving average of $3.59.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (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 analysts’ expectations of $176.43 million. During the same quarter last year, the company earned ($0.03) earnings per share. On average, sell-side analysts forecast that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.005 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.50%. Martin Midstream Partners’s dividend payout ratio is presently 20.00%.

Institutional Investors Weigh In On Martin Midstream Partners

A number of hedge funds have recently modified their holdings of MMLP. De Lisle Partners LLP boosted its holdings in Martin Midstream Partners by 13.0% in the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock valued at $953,000 after purchasing an additional 30,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Martin Midstream Partners during the 1st quarter valued at approximately $55,000. Finally, Acadian Asset Management LLC acquired a new position in Martin Midstream Partners in the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 34.90% of the company’s 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.