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

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

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock opened at $3.98 on Friday. Martin Midstream Partners has a one year low of $2.04 and a one year high of $4.13. The company has a market cap of $155.22 million, a price-to-earnings ratio of 39.80 and a beta of 2.10. The business’s 50 day moving average price is $3.85 and its 200 day moving average price is $3.56.

Martin Midstream Partners (NASDAQ:MMLP) last released 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 firm had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, analysts predict that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Martin Midstream Partners in the 1st quarter valued at approximately $50,000. Virtu Financial LLC acquired a new stake in shares of Martin Midstream Partners in the first quarter valued at $55,000. Finally, De Lisle Partners LLP boosted its holdings in Martin Midstream Partners by 13.0% in the third 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 during the period. 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.