Martin Midstream Partners (NASDAQ:MMLP) Announces Earnings Results

Martin Midstream Partners (NASDAQ:MMLP) released its earnings results on Wednesday. The pipeline company reported ($0.17) earnings per share for the quarter, Zacks reports.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock traded up $0.03 during midday trading on Wednesday, hitting $2.80. 78,908 shares of the company’s stock were exchanged, compared to its average volume of 15,491. Martin Midstream Partners has a 12 month low of $2.21 and a 12 month high of $3.54. The firm has a 50-day moving average of $2.76 and a two-hundred day moving average of $2.73. The company has a market cap of $109.35 million, a PE ratio of -7.57 and a beta of 0.57.

Martin Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were issued a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, February 6th. Martin Midstream Partners’s dividend payout ratio is presently -5.41%.

Analyst Upgrades and Downgrades

MMLP has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Martin Midstream Partners in a research note on Thursday, January 22nd. Stifel Nicolaus cut their price target on Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $3.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in Martin Midstream Partners by 216.0% during the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock worth $1,714,000 after acquiring an additional 397,163 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Martin Midstream Partners by 7.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 7,596 shares during the last quarter. Susquehanna International Group LLP grew its stake in 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 grew its stake in Martin Midstream Partners by 139.3% in the fourth quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after purchasing an additional 14,010 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in Martin Midstream Partners in the third quarter valued at about $41,000. 34.90% of the stock is currently owned by institutional investors.

Martin Midstream Partners Company Profile

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.