Martin Midstream Partners L.P. (MMLP) To Go Ex-Dividend on November 7th

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.005 per share by the pipeline company on Thursday, November 14th. This represents a $0.02 annualized dividend and a yield of 0.50%. The ex-dividend date is Thursday, November 7th.

Martin Midstream Partners has decreased its dividend by an average of 47.1% per year over the last three years. Martin Midstream Partners has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Midstream Partners to earn $0.16 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 12.5%.

Martin Midstream Partners Stock Down 0.5 %

Shares of MMLP stock opened at $3.98 on Friday. The firm has a market capitalization of $155.22 million, a PE ratio of 44.22 and a beta of 2.12. The company has a 50 day moving average price of $3.69 and a 200-day moving average price of $3.33. Martin Midstream Partners has a 52 week low of $2.04 and a 52 week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data 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). Martin Midstream Partners had a negative return on equity of 10.46% and a net margin of 0.90%. The business had revenue of $170.93 million during the quarter, compared to analysts’ expectations of $176.43 million. During the same period in the previous year, the business posted ($0.03) EPS. Analysts anticipate that Martin Midstream Partners will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Martin Midstream Partners in a research report on Tuesday. They set a “buy” rating on the 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.