Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research report released on Sunday morning. The brokerage issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Shares of MMLP opened at $3.02 on Friday. The stock has a 50-day moving average of $3.19 and a two-hundred day moving average of $3.56. The stock has a market cap of $98.15 million, a P/E ratio of -23.23 and a beta of 0.70. 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) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $192.54 million for the quarter, compared to analyst estimates 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 period last year, the firm earned $0.08 EPS. Analysts predict that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, May 8th. Martin Midstream Partners’s dividend payout ratio is presently -8.33%.

Hedge Funds Weigh In On Martin Midstream Partners

A number of institutional investors have recently bought and sold shares of MMLP. US Bancorp DE purchased a new position in Martin Midstream Partners during the 4th quarter worth approximately $32,000. Raymond James Financial Inc. acquired a new position in shares of Martin Midstream Partners in the 4th quarter valued at $124,000. JPMorgan Chase & Co. lifted its stake in shares of Martin Midstream Partners by 24.4% in the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock valued at $2,563,000 after purchasing an additional 140,196 shares during the period. Gardner Lewis Asset Management L P acquired a new position in shares of Martin Midstream Partners in the 4th quarter valued at $824,000. Finally, Geode Capital Management LLC lifted its stake in shares of Martin Midstream Partners by 24.9% in 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 during the period. 34.90% of the stock is owned by hedge funds and other 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.