Martin Midstream Partners L.P. (NASDAQ:MMLP – Get Free Report) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.005 per share by the pipeline company on Wednesday, May 15th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, May 7th.
Martin Midstream Partners has decreased its dividend by an average of 47.1% annually over the last three years. Martin Midstream Partners has a dividend payout ratio of 9.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Martin Midstream Partners to earn $0.22 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 9.1%.
Martin Midstream Partners Stock Performance
Shares of MMLP opened at $2.88 on Monday. Martin Midstream Partners has a 12-month low of $1.95 and a 12-month high of $3.30. The firm has a market capitalization of $112.32 million, a P/E ratio of 32.00 and a beta of 2.15. The firm has a 50-day moving average price of $2.60 and a 200 day moving average price of $2.48.
Analyst Upgrades and Downgrades
Separately, StockNews.com assumed coverage on shares of Martin Midstream Partners in a research note on Wednesday, April 17th. They issued a “strong-buy” rating on the stock.
View Our Latest Stock Report on MMLP
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.
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