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

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

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock opened at $3.99 on Friday. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13. The firm has a market capitalization of $155.61 million, a price-to-earnings ratio of 39.90 and a beta of 2.10. The firm has a 50 day moving average of $3.90 and a 200 day moving average of $3.60.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly 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). The firm had revenue of $170.93 million during the quarter, compared to the consensus estimate 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 previous year, the company earned ($0.03) earnings per share. On average, analysts predict that Martin Midstream Partners will post 0.16 EPS for the current year.

Martin Midstream Partners Dividend Announcement

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

Institutional Trading of Martin Midstream Partners

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Martin Midstream Partners in the 1st quarter worth approximately $55,000. Acadian Asset Management LLC bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $50,000. Finally, De Lisle Partners LLP lifted its holdings in shares of 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 worth $953,000 after buying an additional 30,000 shares in the last quarter. Hedge funds and other 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.