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 note issued to investors on Tuesday. The brokerage issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

Shares of MMLP opened at $3.99 on Tuesday. The stock has a market capitalization of $155.42 million, a P/E ratio of 44.28 and a beta of 2.12. The firm has a fifty day simple moving average of $3.70 and a two-hundred day simple moving average of $3.34. Martin Midstream Partners has a twelve month low of $2.04 and a twelve month high of $4.13.

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 the consensus estimate 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 company had revenue of $170.93 million during the quarter, compared to analysts’ expectations of $176.43 million. During the same period in the prior year, the business posted ($0.03) earnings per share. Sell-side analysts expect that Martin Midstream Partners will post 0.13 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be paid a $0.005 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.50%. Martin Midstream Partners’s payout ratio is 22.22%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MMLP. American National Bank bought a new position in shares of Martin Midstream Partners in the 1st quarter worth about $35,000. Acadian Asset Management LLC bought a new position in shares of Martin Midstream Partners in the 1st quarter worth about $50,000. Finally, Virtu Financial LLC bought a new position in shares of Martin Midstream Partners in the 1st quarter worth about $55,000. 34.90% of the stock is currently owned by institutional investors.

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.