Martin Midstream Partners (NASDAQ:MMLP) Now Covered by StockNews.com

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

Martin Midstream Partners Trading Up 0.3 %

Shares of NASDAQ MMLP opened at $4.00 on Wednesday. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13. The stock has a 50 day simple moving average of $3.73 and a 200-day simple moving average of $3.40. The company has a market cap of $156 million, a PE ratio of 40.00 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $170.93 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.03) earnings per share. Sell-side analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.005 per share. The ex-dividend date of this dividend is 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 presently 20.00%.

Institutional Investors Weigh In On Martin Midstream Partners

A hedge fund recently bought a new stake in Martin Midstream Partners stock. Virtu Financial LLC acquired a new position in Martin Midstream Partners L.P. (NASDAQ:MMLP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 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 filing with the Securities and Exchange Commission (SEC). Institutional investors 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.