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

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

Martin Midstream Partners Price Performance

Martin Midstream Partners stock opened at $3.55 on Tuesday. The firm has a market capitalization of $138.65 million, a price-to-earnings ratio of -27.31 and a beta of 2.08. The company’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $3.76. Martin Midstream Partners has a fifty-two week low of $2.36 and a fifty-two week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share 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%. As a group, analysts predict that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a $0.005 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.56%. Martin Midstream Partners’s dividend payout ratio (DPR) is currently -15.38%.

Hedge Funds Weigh In On Martin Midstream Partners

Several institutional investors have recently modified their holdings of MMLP. US Bancorp DE acquired a new position in Martin Midstream Partners in the 4th quarter worth $32,000. Squarepoint Ops LLC bought a new stake in shares of Martin Midstream Partners in the fourth quarter valued at about $36,000. CSS LLC IL acquired a new position in shares of Martin Midstream Partners during the fourth quarter worth about $100,000. Geode Capital Management LLC grew 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 buying an additional 5,966 shares in the last quarter. Finally, AGP Franklin LLC acquired a new stake in Martin Midstream Partners in the 4th quarter valued at approximately $111,000. 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.