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

StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note published on Monday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP opened at $3.65 on Monday. The company has a 50 day simple moving average of $3.63 and a two-hundred day simple moving average of $3.76. Martin Midstream Partners has a fifty-two week low of $2.36 and a fifty-two week high of $4.13. The company has a market capitalization of $142.55 million, a price-to-earnings ratio of -28.07 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. On average, analysts forecast that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, February 7th. Martin Midstream Partners’s payout ratio is -15.38%.

Institutional Trading of Martin Midstream Partners

A number of institutional investors and hedge funds have recently bought and sold shares of MMLP. De Lisle Partners LLP increased its holdings in shares of Martin Midstream Partners by 13.0% in the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares in the last quarter. US Bancorp DE bought a new position in Martin Midstream Partners during the fourth quarter valued at approximately $32,000. Raymond James Financial Inc. purchased a new stake in Martin Midstream Partners in the fourth quarter worth approximately $124,000. JPMorgan Chase & Co. grew its position in Martin Midstream Partners by 24.4% in the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after purchasing an additional 140,196 shares during the period. Finally, Gardner Lewis Asset Management L P purchased a new stake in Martin Midstream Partners during the 4th quarter valued at $824,000. 34.90% of the stock is currently owned by institutional investors.

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.