Martin Midstream Partners L.P. (NASDAQ:MMLP – Get Free Report) 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.
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.
Read Our Latest Stock Report on Martin Midstream Partners
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.
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