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

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

Martin Midstream Partners Trading Down 0.6 %

Shares of NASDAQ MMLP opened at $3.40 on Friday. The stock has a market cap of $132.60 million, a P/E ratio of 34.00 and a beta of 2.12. The stock has a 50 day moving average of $3.94 and a two-hundred day moving average of $3.74. 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 issued 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). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. The business had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. During the same quarter in the prior year, the company earned ($0.03) EPS. As a group, research analysts predict that Martin Midstream Partners will post 0.16 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, November 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is presently 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP increased its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,833 shares of the pipeline company’s stock after purchasing an additional 30,000 shares during the period. De Lisle Partners LLP owned approximately 0.67% of Martin Midstream Partners worth $953,000 as of its most recent SEC filing. 34.90% of the stock is owned by hedge funds and other 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.