Martin Midstream Partners L.P. (NASDAQ:MMLP) Announces Quarterly Dividend of $0.01

Martin Midstream Partners L.P. (NASDAQ:MMLP) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 0.005 per share by the pipeline company on Wednesday, May 15th. This represents a $0.02 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, May 7th.

Martin Midstream Partners has decreased its dividend payment by an average of 47.1% per year over the last three years. Martin Midstream Partners has a payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Midstream Partners to earn $0.26 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 7.7%.

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock opened at $2.66 on Friday. The firm has a market cap of $103.74 million, a P/E ratio of 29.56 and a beta of 2.12. Martin Midstream Partners has a twelve month low of $1.95 and a twelve month high of $3.30. The firm’s 50-day simple moving average is $2.51 and its 200-day simple moving average is $2.46.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $181.10 million for the quarter, compared to analyst estimates of $177.85 million. Martin Midstream Partners had a net margin of 0.52% and a negative return on equity of 5.91%. On average, equities analysts forecast that Martin Midstream Partners will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Martin Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in shares of Martin Midstream Partners during the third quarter worth approximately $39,000. Jane Street Group LLC acquired a new position in shares of Martin Midstream Partners during the fourth quarter worth approximately $43,000. HighTower Advisors LLC lifted its position in shares of Martin Midstream Partners by 59.8% during the fourth quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 6,016 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Martin Midstream Partners during the fourth quarter worth approximately $67,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Martin Midstream Partners during the first quarter worth approximately $140,000. 34.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Martin Midstream Partners in a research report on Wednesday. They issued a “strong-buy” rating on the stock.

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.