Martin Midstream Partners L.P. (NASDAQ:MMLP – Get Free Report) announced a quarterly dividend on Wednesday, October 16th, Zacks reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.005 per share by the pipeline company on Thursday, November 14th. This represents a $0.02 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, November 7th.
Martin Midstream Partners has decreased its dividend by an average of 47.1% annually over the last three years. Martin Midstream Partners has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities 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 MMLP stock opened at $3.98 on Friday. Martin Midstream Partners has a one year low of $2.04 and a one year high of $4.13. The company’s 50-day moving average is $3.69 and its 200 day moving average is $3.33. The company has a market capitalization of $155.22 million, a price-to-earnings ratio of 44.22 and a beta of 2.12.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a research note on Tuesday. They set a “buy” rating on the stock.
Check Out Our Latest Research 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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