StockNews.com Begins Coverage on Martin Midstream Partners (NASDAQ:MMLP)

StockNews.com began coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note published on Saturday morning. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock opened at $3.31 on Friday. The stock has a market capitalization of $129.09 million, a P/E ratio of 33.10 and a beta of 2.12. The company’s fifty day moving average price is $3.86 and its 200 day moving average price is $3.74. Martin Midstream Partners has a 1 year low of $2.04 and a 1 year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. The firm had revenue of $170.93 million during the quarter, compared to analysts’ expectations of $176.43 million. During the same quarter last year, the business earned ($0.03) EPS. Sell-side analysts predict that Martin Midstream Partners will post 0.16 EPS for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.005 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.60%. Martin Midstream Partners’s payout ratio is 20.00%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP grew its position in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,833 shares of the pipeline company’s stock after buying an additional 30,000 shares during the quarter. De Lisle Partners LLP owned 0.67% of Martin Midstream Partners worth $953,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 34.90% of the company’s 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.