Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated at Wall Street Zen

Wall Street Zen initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Free Report) in a report issued on Monday. The brokerage issued a buy rating on the pipeline company's stock.

Martin Midstream Partners Trading Down 1.3%

Shares of NASDAQ:MMLP traded down $0.04 during mid-day trading on Monday, reaching $2.99. The company had a trading volume of 13,758 shares, compared to its average volume of 100,205. The firm has a market cap of $97.18 million, a price-to-earnings ratio of -23.00 and a beta of 0.70. The company's 50-day moving average price is $3.07 and its 200-day moving average price is $3.51. Martin Midstream Partners has a one year low of $2.56 and a one year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last posted its quarterly 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 company had revenue of $192.54 million during the quarter, compared to the consensus estimate 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 posted $0.08 EPS. On average, research analysts anticipate that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.005 per share. The ex-dividend date was Thursday, May 8th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.67%. Martin Midstream Partners's dividend payout ratio (DPR) is currently -8.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in Martin Midstream Partners in the fourth quarter worth $124,000. US Bancorp DE purchased a new position in Martin Midstream Partners in the fourth quarter worth $32,000. JPMorgan Chase & Co. lifted its stake in Martin Midstream Partners by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company's stock worth $2,563,000 after purchasing an additional 140,196 shares during the last quarter. Geode Capital Management LLC lifted its stake in Martin Midstream Partners by 24.9% in the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company's stock worth $107,000 after purchasing an additional 5,966 shares during the last quarter. Finally, Gardner Lewis Asset Management L P bought a new stake in Martin Midstream Partners in the fourth quarter worth $824,000. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Martin Midstream Partners Company Profile

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.