StockNews.com Initiates Coverage on Martin Midstream Partners (NASDAQ:MMLP)

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

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock opened at $4.00 on Wednesday. The company’s fifty day moving average is $3.73 and its two-hundred day moving average is $3.40. Martin Midstream Partners has a 1 year low of $2.04 and a 1 year high of $4.13. The company has a market capitalization of $156 million, a P/E ratio of 40.00 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 business had revenue of $170.93 million during the quarter, compared to analyst estimates of $176.43 million. During the same period in the prior year, the business earned ($0.03) earnings per share. As a group, equities analysts expect that Martin Midstream Partners will post 0.16 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a $0.005 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.02 annualized dividend and a yield of 0.50%. Martin Midstream Partners’s payout ratio is currently 20.00%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Martin Midstream Partners stock. Virtu Financial LLC purchased a new position in Martin Midstream Partners L.P. (NASDAQ:MMLP) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,342 shares of the pipeline company’s stock, valued at approximately $55,000. Virtu Financial LLC owned 0.05% of Martin Midstream Partners as of its most recent SEC filing. Institutional investors and hedge funds 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.