StockNews.com began coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Free Report) in a research report report published on Sunday. The brokerage issued a buy rating on the pipeline company's stock.
Martin Midstream Partners Stock Performance
MMLP traded down $0.04 on Friday, hitting $3.04. 18,793 shares of the company were exchanged, compared to its average volume of 102,212. Martin Midstream Partners has a fifty-two week low of $2.56 and a fifty-two week high of $4.13. The firm has a market capitalization of $98.80 million, a P/E ratio of -23.38 and a beta of 0.70. The business's fifty day moving average is $3.20 and its 200 day moving average is $3.56.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last announced its 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). Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. The company had revenue of $192.54 million for the quarter, compared to analyst estimates of $187.13 million. During the same quarter last year, the company posted $0.08 EPS. Analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.
Martin Midstream Partners Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid 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 0.66%. Martin Midstream Partners's payout ratio is currently -8.33%.
Institutional Investors Weigh In On Martin Midstream Partners
A number of hedge funds and other institutional investors have recently made changes to their positions in MMLP. Nomura Holdings Inc. acquired a new stake in Martin Midstream Partners in the 4th quarter worth about $3,360,000. JPMorgan Chase & Co. lifted its holdings in shares of Martin Midstream Partners by 24.4% during the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company's stock worth $2,563,000 after acquiring an additional 140,196 shares during the period. Nexpoint Asset Management L.P. acquired a new stake in shares of Martin Midstream Partners in the fourth quarter worth approximately $1,636,000. Gardner Lewis Asset Management L P purchased a new stake in Martin Midstream Partners in the fourth quarter valued at approximately $824,000. Finally, Tiptree Advisors LLC purchased a new stake in Martin Midstream Partners in the fourth quarter valued at approximately $524,000. Hedge funds and other institutional investors own 34.90% of the company's stock.
Martin Midstream Partners Company Profile
(
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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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