Martin Midstream Partners (NASDAQ:MMLP) Now Covered by StockNews.com

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

Martin Midstream Partners Stock Performance

MMLP opened at $3.58 on Wednesday. The business’s 50-day simple moving average is $3.68 and its 200 day simple moving average is $3.76. Martin Midstream Partners has a 52-week low of $2.10 and a 52-week high of $4.13. The firm has a market capitalization of $139.62 million, a PE ratio of 35.80 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. On average, research analysts forecast that Martin Midstream Partners will post 0.12 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be issued a $0.005 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.56%. Martin Midstream Partners’s payout ratio is 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE acquired a new stake in shares of Martin Midstream Partners in the fourth quarter valued at approximately $32,000. Geode Capital Management LLC raised its stake in Martin Midstream Partners by 24.9% in the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock valued at $107,000 after acquiring an additional 5,966 shares during the period. Raymond James Financial Inc. acquired a new stake in Martin Midstream Partners during the 4th quarter valued at $124,000. Gardner Lewis Asset Management L P bought a new position in Martin Midstream Partners during the fourth quarter worth $824,000. Finally, De Lisle Partners LLP boosted its position in Martin Midstream Partners by 13.0% during the third 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 during the period. 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.