Martin Midstream Partners (NASDAQ:MMLP) Earns Buy Rating from Analysts at StockNews.com

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

Martin Midstream Partners Price Performance

NASDAQ MMLP opened at $3.58 on Thursday. The stock has a market capitalization of $139.62 million, a price-to-earnings ratio of -27.54 and a beta of 2.10. The business’s fifty day moving average is $3.62 and its 200-day moving average is $3.75. Martin Midstream Partners has a one year low of $2.28 and a one year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. Research analysts expect that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.005 per share. The ex-dividend date was Friday, February 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.56%. Martin Midstream Partners’s dividend payout ratio is presently -15.38%.

Hedge Funds Weigh In On Martin Midstream Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. De Lisle Partners LLP grew its stake in Martin Midstream Partners by 13.0% in the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares during the period. US Bancorp DE purchased a new stake in Martin Midstream Partners in the fourth quarter worth $32,000. Raymond James Financial Inc. purchased a new stake in Martin Midstream Partners in the fourth quarter worth $124,000. JPMorgan Chase & Co. grew 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 period. Finally, Gardner Lewis Asset Management L P purchased a new stake in Martin Midstream Partners in the fourth quarter worth $824,000. 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.