Martin Midstream Partners (NASDAQ:MMLP) Research Coverage Started at StockNews.com

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

Martin Midstream Partners Price Performance

Shares of NASDAQ MMLP opened at $3.40 on Friday. The company has a market cap of $132.60 million, a price-to-earnings ratio of 34.00 and a beta of 2.12. The stock’s 50-day moving average is $3.94 and its two-hundred day moving average is $3.74. Martin Midstream Partners has a 1-year low of $2.04 and a 1-year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 last year, the business earned ($0.03) EPS. Equities research analysts anticipate that Martin Midstream Partners will post 0.16 earnings per share 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 given a dividend of $0.005 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.59%. Martin Midstream Partners’s dividend payout ratio is currently 20.00%.

Institutional Investors Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP grew its stake in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,833 shares of the pipeline company’s stock after buying an additional 30,000 shares during the period. De Lisle Partners LLP owned 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent reporting period. Institutional investors own 34.90% of the company’s stock.

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.