StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Free Report) in a research report sent to investors on Friday. The brokerage issued a buy rating on the pipeline company's stock.
Martin Midstream Partners Trading Up 1.1 %
NASDAQ:MMLP traded up $0.03 during trading hours on Friday, hitting $2.88. The stock had a trading volume of 60,503 shares, compared to its average volume of 102,492. Martin Midstream Partners has a 1-year low of $2.56 and a 1-year high of $4.13. The business has a 50 day simple moving average of $3.30 and a two-hundred day simple moving average of $3.62. The company has a market cap of $112.48 million, a PE ratio of -22.15 and a beta of 1.75.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last announced its quarterly earnings data 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 business 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 quarter in the previous year, the business posted $0.08 earnings per share. Research analysts expect that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.
Martin Midstream Partners Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a $0.005 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.02 annualized dividend and a yield of 0.69%. Martin Midstream Partners's dividend payout ratio is currently -8.33%.
Institutional Investors Weigh In On Martin Midstream Partners
Hedge funds have recently made changes to their positions in the stock. US Bancorp DE acquired a new stake in shares of Martin Midstream Partners in the 4th quarter valued at about $32,000. Squarepoint Ops LLC bought a new stake in shares of Martin Midstream Partners during the 4th quarter valued at $36,000. CSS LLC IL bought a new position in shares of Martin Midstream Partners in the fourth quarter worth $100,000. Geode Capital Management LLC grew its stake in 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 worth $107,000 after buying an additional 5,966 shares in the last quarter. Finally, AGP Franklin LLC purchased a new stake in Martin Midstream Partners in the fourth quarter worth approximately $111,000. 34.90% of the stock is currently owned by institutional investors and hedge funds.
Martin Midstream Partners Company Profile
(
Get Free Report)
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.
Read More
Before you consider Martin Midstream Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Martin Midstream Partners wasn't on the list.
While Martin Midstream Partners currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
