Martin Midstream Partners (NASDAQ:MMLP) Announces Earnings Results

Martin Midstream Partners (NASDAQ:MMLP) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $213.60 million for the quarter.

Martin Midstream Partners Price Performance

Shares of Martin Midstream Partners stock opened at $2.46 on Thursday. The business has a 50 day simple moving average of $2.44 and a two-hundred day simple moving average of $2.64. Martin Midstream Partners has a 12 month low of $1.89 and a 12 month high of $3.54. The stock has a market capitalization of $96.24 million, a P/E ratio of -4.82 and a beta of 0.50.

Martin Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 7th. Martin Midstream Partners’s payout ratio is -3.92%.

Institutional Trading of Martin Midstream Partners

Several large investors have recently made changes to their positions in MMLP. Bank of America Corp DE lifted its holdings in Martin Midstream Partners by 216.0% in the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after purchasing an additional 397,163 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Martin Midstream Partners by 7.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock worth $300,000 after purchasing an additional 7,596 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of Martin Midstream Partners by 298.9% in the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 33,064 shares during the last quarter. Jane Street Group LLC boosted its stake in Martin Midstream Partners by 139.3% during the fourth quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock worth $63,000 after buying an additional 14,010 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Martin Midstream Partners during the 3rd quarter worth $41,000. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Martin Midstream Partners in a research report on Friday, May 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $3.00.

About Martin Midstream Partners

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.