StockNews.com Initiates Coverage on Martin Midstream Partners (NASDAQ:MMLP)

StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research report sent to investors on Friday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock opened at $3.40 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 50-day simple moving average of $3.94 and a 200-day simple moving average of $3.74. The firm has a market capitalization of $132.60 million, a P/E ratio of 34.00 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data 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 quarter last year, the company earned ($0.03) EPS. As a group, sell-side analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.005 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.59%. Martin Midstream Partners’s dividend payout ratio is 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

An institutional investor recently raised its position in Martin Midstream Partners stock. De Lisle Partners LLP increased its position in 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 (SEC). The firm owned 260,833 shares of the pipeline company’s stock after acquiring an additional 30,000 shares during the quarter. De Lisle Partners LLP owned about 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.