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

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

Martin Midstream Partners Price Performance

Martin Midstream Partners stock opened at $3.58 on Thursday. Martin Midstream Partners has a one year low of $2.28 and a one year high of $4.13. The stock has a market capitalization of $139.62 million, a PE 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 (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) EPS for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts expect that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

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

Institutional Investors Weigh In On Martin Midstream Partners

Several institutional investors have recently modified their holdings of the business. Toronto Dominion Bank bought a new position in Martin Midstream Partners in the fourth quarter valued at about $233,000. CSS LLC IL bought a new position in Martin Midstream Partners in the fourth quarter valued at about $100,000. Squarepoint Ops LLC bought a new position in Martin Midstream Partners in the fourth quarter valued at about $36,000. Nomura Holdings Inc. bought a new position in Martin Midstream Partners in the fourth quarter valued at about $3,360,000. Finally, Bank of America Corp DE lifted its holdings in Martin Midstream Partners by 922.4% in the fourth quarter. Bank of America Corp DE now owns 40,232 shares of the pipeline company’s stock valued at $144,000 after acquiring an additional 36,297 shares during the period. 34.90% of the stock is owned by hedge funds and other institutional investors.

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.