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

StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note issued to investors on Wednesday. The brokerage issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Stock Up 0.2 %

Shares of MMLP stock opened at $4.01 on Wednesday. The company’s fifty day simple moving average is $3.99 and its two-hundred day simple moving average is $3.71. Martin Midstream Partners has a 52 week low of $2.04 and a 52 week high of $4.13. The stock has a market cap of $156.39 million, a P/E ratio of 40.10 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last posted its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $170.93 million during the quarter, compared to analysts’ expectations of $176.43 million. Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, analysts anticipate that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, November 7th. Martin Midstream Partners’s dividend payout ratio is presently 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP grew its holdings in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% during the 3rd quarter, according to 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 quarter. De Lisle Partners LLP owned 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 34.90% of the company’s stock.

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.