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

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

Martin Midstream Partners Trading Down 1.4 %

Shares of MMLP stock opened at $3.55 on Tuesday. The firm has a market capitalization of $138.65 million, a P/E ratio of -27.31 and a beta of 2.08. Martin Midstream Partners has a 1 year low of $2.36 and a 1 year high of $4.13. The firm’s fifty day simple moving average is $3.63 and its 200 day simple moving average is $3.76.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) EPS 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%. Equities research analysts anticipate that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, February 7th. Martin Midstream Partners’s payout ratio is -15.38%.

Institutional Investors Weigh In On Martin Midstream Partners

Several large investors have recently modified their holdings of MMLP. Nomura Holdings Inc. bought a new stake in Martin Midstream Partners during the 4th quarter worth approximately $3,360,000. JPMorgan Chase & Co. grew its holdings in shares of Martin Midstream Partners by 24.4% during the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after purchasing an additional 140,196 shares during the last quarter. Nexpoint Asset Management L.P. acquired a new stake in shares of Martin Midstream Partners in the fourth quarter valued at $1,636,000. Gardner Lewis Asset Management L P bought a new position in shares of Martin Midstream Partners in the fourth quarter valued at about $824,000. Finally, Tiptree Advisors LLC acquired a new position in Martin Midstream Partners during the 4th quarter worth about $524,000. 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.