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

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

Martin Midstream Partners Stock Down 0.2 %

MMLP opened at $3.99 on Tuesday. The firm has a market capitalization of $155.61 million, a P/E ratio of 39.90 and a beta of 2.10. The stock has a fifty day moving average of $3.97 and a 200-day moving average of $3.67. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, analysts expect that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.005 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.50%. Martin Midstream Partners’s payout ratio is 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

An institutional investor recently raised its position in Martin Midstream Partners stock. De Lisle Partners LLP boosted its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.