StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP - Free Report) in a research report report published on Saturday morning. The brokerage issued a buy rating on the pipeline company's stock.
Martin Midstream Partners Stock Performance
Shares of MMLP stock traded up $0.09 during trading hours on Friday, reaching $3.72. The company had a trading volume of 95,634 shares, compared to its average volume of 95,758. Martin Midstream Partners has a 12-month low of $2.36 and a 12-month high of $4.13. The company has a market capitalization of $145.28 million, a price-to-earnings ratio of -28.61 and a beta of 2.08. The stock has a fifty day moving average of $3.55 and a 200-day moving average of $3.75.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last issued its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (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%. On average, analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current year.
Martin Midstream Partners Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a $0.005 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.02 annualized dividend and a yield of 0.54%. Martin Midstream Partners's payout ratio is -15.38%.
Institutional Trading of Martin Midstream Partners
Hedge funds and other institutional investors have recently made changes to their positions in the company. De Lisle Partners LLP grew its position 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 acquiring an additional 30,000 shares during the period. US Bancorp DE acquired a new position in shares of Martin Midstream Partners in the 4th quarter valued at $32,000. Raymond James Financial Inc. purchased a new position in shares of Martin Midstream Partners during the 4th quarter worth $124,000. JPMorgan Chase & Co. increased its position in shares of Martin Midstream Partners by 24.4% during the 4th 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 last quarter. Finally, Gardner Lewis Asset Management L P purchased a new stake in Martin Midstream Partners in the 4th quarter valued at about $824,000. Institutional investors and hedge funds own 34.90% of the company's stock.
About Martin Midstream Partners
(
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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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