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

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

Martin Midstream Partners Stock Down 0.2 %

Shares of NASDAQ MMLP opened at $3.99 on Friday. The business’s 50 day moving average is $3.89 and its two-hundred day moving average is $3.59. Martin Midstream Partners has a 52-week low of $2.04 and a 52-week high of $4.13. The firm has a market cap of $155.61 million, a price-to-earnings ratio of 40.00 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data 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 net margin of 0.59% and a negative return on equity of 6.93%. The firm had revenue of $170.93 million during the quarter, compared to analyst estimates of $176.43 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. Analysts anticipate that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.005 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Thursday, November 7th. Martin Midstream Partners’s payout ratio is 20.00%.

Institutional Investors Weigh In On Martin Midstream Partners

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in shares of Martin Midstream Partners in the first quarter worth $50,000. Virtu Financial LLC purchased a new position in Martin Midstream Partners in the first quarter valued at $55,000. Finally, De Lisle Partners LLP grew its stake in Martin Midstream Partners by 13.0% during the 3rd 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 in the last quarter. 34.90% of the stock is currently 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.