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

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

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP opened at $3.48 on Wednesday. The company has a market cap of $135.72 million, a PE ratio of 34.80 and a beta of 2.10. The business has a 50-day simple moving average of $3.66 and a two-hundred day simple moving average of $3.76. Martin Midstream Partners has a fifty-two week low of $2.18 and a fifty-two week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. On average, sell-side analysts predict that Martin Midstream Partners will post 0.12 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is 20.00%.

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors and hedge funds have recently modified their holdings of the company. De Lisle Partners LLP lifted its holdings in shares of Martin Midstream Partners by 13.0% during the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Martin Midstream Partners during the fourth quarter worth about $124,000. Geode Capital Management LLC lifted its holdings in shares of Martin Midstream Partners by 24.9% during the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 5,966 shares during the period. Nexpoint Asset Management L.P. acquired a new stake in shares of Martin Midstream Partners during the fourth quarter worth about $1,636,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Martin Midstream Partners by 24.4% during the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after purchasing an additional 140,196 shares during the period. Institutional investors and hedge funds 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.