Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated by Analysts at StockNews.com

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

Martin Midstream Partners Price Performance

Shares of MMLP stock opened at $3.97 on Thursday. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13. The company has a market capitalization of $154.83 million, a PE ratio of 39.70 and a beta of 2.12. The firm has a 50 day moving average price of $3.75 and a two-hundred day moving average price of $3.43.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly 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 negative return on equity of 6.93% and a net margin of 0.59%. The firm had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, research analysts expect that Martin Midstream Partners will post 0.16 EPS for the current year.

Martin Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, November 7th. Martin Midstream Partners’s dividend payout ratio is 20.00%.

Institutional Trading of Martin Midstream Partners

An institutional investor recently bought a new position in Martin Midstream Partners stock. Virtu Financial LLC purchased a new stake in Martin Midstream Partners L.P. (NASDAQ:MMLP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,342 shares of the pipeline company’s stock, valued at approximately $55,000. Virtu Financial LLC owned approximately 0.05% of Martin Midstream Partners at the end of the most recent quarter. 34.90% of the stock is owned by institutional investors and hedge funds.

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.