StockNews.com began coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Free Report) in a report issued on Monday morning. The firm issued a buy rating on the pipeline company's stock.
Martin Midstream Partners Trading Down 0.5 %
Martin Midstream Partners stock traded down $0.02 during midday trading on Monday, reaching $3.63. 43,033 shares of the stock traded hands, compared to its average volume of 96,198. The firm has a market cap of $141.77 million, a PE ratio of -27.92 and a beta of 2.08. The company has a 50-day simple moving average of $3.63 and a two-hundred day simple moving average of $3.76. Martin Midstream Partners has a 12-month low of $2.36 and a 12-month high of $4.13.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last posted 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%. Equities research analysts anticipate that Martin Midstream Partners will post 0.15 earnings per share for the current year.
Martin Midstream Partners Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid 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 yield of 0.55%. Martin Midstream Partners's payout ratio is -15.38%.
Hedge Funds Weigh In On Martin Midstream Partners
Several hedge funds and other institutional investors have recently made changes to their positions in MMLP. Nomura Holdings Inc. acquired a new stake in Martin Midstream Partners in the fourth quarter valued at approximately $3,360,000. Nexpoint Asset Management L.P. purchased a new stake in shares of Martin Midstream Partners during the 4th quarter worth $1,636,000. Gardner Lewis Asset Management L P acquired a new position in shares of Martin Midstream Partners during the fourth quarter worth $824,000. Tiptree Advisors LLC acquired a new position in shares of Martin Midstream Partners during the fourth quarter worth $524,000. Finally, JPMorgan Chase & Co. increased its holdings 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 valued at $2,563,000 after buying an additional 140,196 shares during the last quarter. Hedge funds and other institutional investors own 34.90% of the company's stock.
Martin Midstream Partners Company Profile
(
Get Free Report)
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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