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 report published on Saturday. The brokerage issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Trading Down 0.5 %

Shares of MMLP opened at $3.98 on Friday. The company’s 50 day simple moving average is $3.85 and its 200-day simple moving average is $3.56. The firm has a market cap of $155.22 million, a PE ratio of 39.80 and a beta of 2.10. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $176.43 million. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, equities research analysts forecast that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

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

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Martin Midstream Partners in the 1st quarter worth $50,000. Virtu Financial LLC acquired a new stake in Martin Midstream Partners in the first quarter valued at about $55,000. Finally, De Lisle Partners LLP boosted its holdings in Martin Midstream Partners by 13.0% in the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock valued at $953,000 after purchasing an additional 30,000 shares in the last quarter. 34.90% of the stock is currently owned by hedge funds and other 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.