Martin Midstream Partners (NASDAQ:MMLP) Earns Buy Rating from Analysts at StockNews.com

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

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock opened at $3.98 on Thursday. The stock has a market capitalization of $155.22 million, a price-to-earnings ratio of 39.80 and a beta of 2.10. Martin Midstream Partners has a 52-week low of $2.04 and a 52-week high of $4.13. The stock’s 50 day moving average price is $3.76 and its two-hundred day moving average price is $3.45.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $176.43 million. During the same period in the previous year, the company earned ($0.03) earnings per share. On average, equities research analysts forecast that Martin Midstream Partners will post 0.16 EPS for the current year.

Martin Midstream Partners Dividend Announcement

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

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently bought a new stake in Martin Midstream Partners stock. Virtu Financial LLC bought a new position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,342 shares of the pipeline company’s stock, valued at approximately $55,000. Virtu Financial LLC owned 0.05% of Martin Midstream Partners as of its most recent SEC filing. 34.90% of the stock is currently owned by hedge funds and other 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.