Martin Midstream Partners (NASDAQ:MMLP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note issued to investors on Saturday morning. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Trading Up 1.8 %

NASDAQ:MMLP opened at $3.31 on Friday. The stock has a fifty day simple moving average of $3.86 and a 200-day simple moving average of $3.74. The company has a market cap of $129.09 million, a price-to-earnings ratio of 33.10 and a beta of 2.12. 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 released its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The firm had revenue of $170.93 million for the quarter, compared to analysts’ expectations 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 earned ($0.03) earnings per share. As a group, equities research analysts predict that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, November 7th. Martin Midstream Partners’s payout ratio is presently 20.00%.

Institutional Inflows and Outflows

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