Martin Midstream Partners L.P. (NASDAQ:MMLP) to Issue $0.01 Quarterly Dividend

Martin Midstream Partners L.P. (NASDAQ:MMLP - Get Free Report) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors 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 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend 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 payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Midstream Partners to earn $0.26 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 7.7%.

Martin Midstream Partners Stock Performance

MMLP traded up $0.05 on Friday, reaching $2.71. 49,020 shares of the company's stock were exchanged, compared to its average volume of 47,252. The company's 50 day moving average is $2.52 and its 200-day moving average is $2.46. Martin Midstream Partners has a twelve month low of $1.95 and a twelve month high of $3.30. The company has a market cap of $105.69 million, a price-to-earnings ratio of 30.11 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $177.85 million. Martin Midstream Partners had a negative return on equity of 5.91% and a net margin of 0.52%. Sell-side analysts forecast that Martin Midstream Partners will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MMLP. Raymond James & Associates grew its stake in Martin Midstream Partners by 351.9% in the first quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company's stock valued at $1,755,000 after purchasing an additional 325,461 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Martin Midstream Partners by 4.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,958,380 shares of the pipeline company's stock worth $4,211,000 after acquiring an additional 91,816 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Martin Midstream Partners during the first quarter valued at about $379,000. Acadian Asset Management LLC bought a new stake in shares of Martin Midstream Partners in the 1st quarter worth approximately $140,000. Finally, Victory Capital Management Inc. acquired a new stake in Martin Midstream Partners during the fourth quarter worth $67,000. 34.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Martin Midstream Partners in a research report on Wednesday. They set a "strong-buy" rating on the stock.

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.