Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated by Analysts at StockNews.com

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

Martin Midstream Partners Stock Down 1.1 %

Martin Midstream Partners stock opened at $3.58 on Wednesday. Martin Midstream Partners has a 12-month low of $2.10 and a 12-month high of $4.13. The stock has a market cap of $139.62 million, a price-to-earnings ratio of 35.80 and a beta of 2.10. The business’s 50-day simple moving average is $3.68 and its 200 day simple moving average is $3.76.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. As a group, sell-side analysts expect that Martin Midstream Partners will post 0.12 EPS for the current year.

Martin Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, February 7th. Martin Midstream Partners’s payout ratio is presently 20.00%.

Institutional Investors Weigh In On Martin Midstream Partners

Several large investors have recently modified their holdings of MMLP. JPMorgan Chase & Co. grew its position in shares of Martin Midstream Partners by 24.4% in the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock valued at $2,563,000 after purchasing an additional 140,196 shares during the period. De Lisle Partners LLP raised its holdings 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 buying an additional 30,000 shares during the period. Gardner Lewis Asset Management L P bought a new position in Martin Midstream Partners in the fourth quarter valued at approximately $824,000. Raymond James Financial Inc. acquired a new position in shares of Martin Midstream Partners in the fourth quarter valued at approximately $124,000. Finally, Geode Capital Management LLC increased its position in shares of Martin Midstream Partners by 24.9% during the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after acquiring an additional 5,966 shares in the last quarter. 34.90% of the stock is currently owned by institutional investors.

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.