Martin Midstream Partners L.P. Announces Quarterly Dividend of $0.01 (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Stockholders of record on Thursday, November 7th will be given a dividend of 0.005 per share by the pipeline company on Thursday, November 14th. This represents a $0.02 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, November 7th.

Martin Midstream Partners has decreased its dividend payment by an average of 47.1% per year over the last three years. Martin Midstream Partners has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Martin Midstream Partners to earn $0.16 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 12.5%.

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock opened at $3.98 on Friday. The stock has a market capitalization of $155.22 million, a P/E ratio of 44.22 and a beta of 2.12. Martin Midstream Partners has a 52-week low of $2.04 and a 52-week high of $4.13. The stock’s 50-day simple moving average is $3.69 and its 200 day simple moving average is $3.33.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The business had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. Martin Midstream Partners had a net margin of 0.90% and a negative return on equity of 10.46%. During the same period last year, the firm earned ($0.03) EPS. Equities research analysts forecast that Martin Midstream Partners will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Martin Midstream Partners in a research report on Tuesday. They set a “buy” rating on the stock.

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.