Martin Midstream Partners L.P. (NASDAQ:MMLP) Declares Quarterly Dividend of $0.01

Martin Midstream Partners L.P. (NASDAQ:MMLP) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Friday, November 6th will be paid a dividend of $0.0050 per share by the pipeline company on Friday, November 13th. This represents a $0.02 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 6th.

Martin Midstream Partners has decreased its dividend by an average of 0.3% per year over the last three years.

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP traded up $0.11 during trading on Thursday, hitting $2.23. The company had a trading volume of 15,657 shares, compared to its average volume of 21,264. Martin Midstream Partners has a 52 week low of $1.76 and a 52 week high of $3.24. The business’s 50-day moving average is $2.19 and its 200 day moving average is $2.39. The company has a market cap of $87.41 million, a P/E ratio of -5.88 and a beta of 0.51.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, October 21st. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $231.73 million for the quarter, compared to analyst estimates of $207.80 million.

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. Bank of America Corp DE increased its stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 547,270 shares of the pipeline company’s stock after purchasing an additional 4,547 shares during the quarter. Bank of America Corp DE owned approximately 1.40% of Martin Midstream Partners worth $1,510,000 as of its most recent filing with the SEC. 34.90% of the stock is currently owned by institutional investors and hedge funds.

Martin Midstream Partners Company Profile

Martin Midstream Partners, L.P. was a publicly traded master limited partnership focused on the gathering, processing, storage, transportation and marketing of petroleum products and related materials. The partnership operated assets serving energy producers, refiners, chemical manufacturers and other industrial customers.

Its business activities included terminal and storage services, marine and inland transportation, natural gas liquids operations, sulfur services and specialty products.