Martin Midstream Partners (NASDAQ:MMLP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note issued to investors on Saturday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Trading Up 0.6 %

Shares of NASDAQ MMLP opened at $3.25 on Friday. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13. The company has a market cap of $126.75 million, a PE ratio of 32.50 and a beta of 2.12. The stock has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $3.74.

Martin Midstream Partners (NASDAQ:MMLP) last announced 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). The business had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. During the same quarter last year, the firm posted ($0.03) EPS. Sell-side analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.005 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.62%. Martin Midstream Partners’s dividend payout ratio (DPR) is 20.00%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP raised its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 260,833 shares of the pipeline company’s stock after purchasing an additional 30,000 shares during the quarter. De Lisle Partners LLP owned about 0.67% of Martin Midstream Partners worth $953,000 as of its most recent SEC filing. 34.90% of the stock is currently owned by institutional investors.

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.