Martin Midstream Partners L.P. (NASDAQ:MMLP) to Issue Quarterly Dividend of $0.01

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Thursday, November 7th will be paid a dividend of 0.005 per share by the pipeline company on Thursday, November 14th. This represents a $0.02 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Thursday, November 7th.

Martin Midstream Partners has decreased its dividend by an average of 47.1% annually over the last three years. Martin Midstream Partners has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Martin Midstream Partners to earn $0.23 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 8.7%.

Martin Midstream Partners Stock Performance

Shares of NASDAQ:MMLP opened at $3.96 on Wednesday. The stock has a market capitalization of $154.44 million, a price-to-earnings ratio of 39.60 and a beta of 2.10. The stock’s 50-day simple moving average is $3.77 and its two-hundred day simple moving average is $3.47. Martin Midstream Partners has a 52-week low of $2.04 and a 52-week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results 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 firm had revenue of $170.93 million during 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 analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Martin Midstream Partners in a research note on Thursday, October 31st. They set a “buy” rating for the company.

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.