Martin Midstream Partners (NASDAQ:MMLP) Research Coverage Started at StockNews.com

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

Martin Midstream Partners Trading Up 1.7%

Shares of NASDAQ MMLP opened at $3.02 on Monday. The firm has a market capitalization of $98.15 million, a PE ratio of -23.23 and a beta of 0.70. The business has a 50-day moving average price of $3.10 and a two-hundred day moving average price of $3.52. Martin Midstream Partners has a one year low of $2.56 and a one year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, April 16th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $192.54 million during the quarter, compared to analysts’ expectations of $187.13 million. Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. During the same quarter in the previous year, the company earned $0.08 EPS. Research analysts anticipate that Martin Midstream Partners will post 0.15 EPS for the current year.

Martin Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, May 8th. Martin Midstream Partners’s payout ratio is currently -8.33%.

Institutional Investors Weigh In On Martin Midstream Partners

Several institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its position in Martin Midstream Partners by 55.6% in the first quarter. US Bancorp DE now owns 14,000 shares of the pipeline company’s stock worth $50,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Martin Midstream Partners by 24.9% during the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 5,966 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Martin Midstream Partners in the 4th quarter valued at $36,000. Pettinga Financial Advisors LLC acquired a new stake in shares of Martin Midstream Partners in the 1st quarter valued at $43,000. Finally, CSS LLC IL bought a new stake in Martin Midstream Partners in the fourth quarter worth $100,000. 34.90% of the stock is currently owned by institutional investors and hedge funds.

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.