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

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

Martin Midstream Partners Price Performance

MMLP opened at $4.01 on Thursday. Martin Midstream Partners has a one year low of $2.04 and a one year high of $4.13. The stock has a market capitalization of $156.39 million, a P/E ratio of 40.10 and a beta of 2.10. The company’s 50 day simple moving average is $3.99 and its 200-day simple moving average is $3.73.

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

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 annualized dividend and a yield of 0.50%. Martin Midstream Partners’s payout ratio is currently 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

An institutional investor recently raised its position in Martin Midstream Partners stock. De Lisle Partners LLP raised its stake in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,833 shares of the pipeline company’s stock after purchasing an additional 30,000 shares during the period. De Lisle Partners LLP owned 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent quarter. 34.90% of the stock is owned by institutional investors and hedge funds.

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.