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 report report published on Thursday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

Shares of NASDAQ:MMLP opened at $2.65 on Thursday. The company’s 50-day moving average price is $3.42 and its two-hundred day moving average price is $3.68. Martin Midstream Partners has a one year low of $2.50 and a one year high of $4.13. The stock has a market capitalization of $103.50 million, a PE ratio of -20.38 and a beta of 1.75.

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 the consensus estimate of $0.02 by ($0.03). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. The company had revenue of $192.54 million for the quarter, compared to the consensus estimate of $187.13 million. During the same quarter in the previous year, the company posted $0.08 EPS. On average, analysts anticipate that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 8th. Martin Midstream Partners’s dividend payout ratio is currently -15.38%.

Institutional Investors Weigh In On Martin Midstream Partners

A number of institutional investors and hedge funds have recently modified their holdings of MMLP. Tiptree Advisors LLC bought a new stake in Martin Midstream Partners in the fourth quarter valued at approximately $524,000. Toronto Dominion Bank bought a new position in Martin Midstream Partners during the fourth quarter worth $233,000. CSS LLC IL acquired a new position in shares of Martin Midstream Partners in the fourth quarter valued at $100,000. Squarepoint Ops LLC acquired a new stake in shares of Martin Midstream Partners during the 4th quarter worth about $36,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Martin Midstream Partners during the 4th quarter worth about $3,360,000. 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.