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

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

Martin Midstream Partners Stock Up 0.3 %

NASDAQ MMLP opened at $4.00 on Wednesday. The stock’s 50-day simple moving average is $3.73 and its two-hundred day simple moving average is $3.39. Martin Midstream Partners has a twelve month low of $2.04 and a twelve month high of $4.13. The company has a market capitalization of $156 million, a price-to-earnings ratio of 40.00 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. The company had revenue of $170.93 million for the quarter, compared to the consensus estimate of $176.43 million. During the same period last year, the business posted ($0.03) earnings per share. On average, equities analysts expect that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.005 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.50%. Martin Midstream Partners’s dividend payout ratio (DPR) is currently 20.00%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Martin Midstream Partners stock. Virtu Financial LLC bought a new position in Martin Midstream Partners L.P. (NASDAQ:MMLP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,342 shares of the pipeline company’s stock, valued at approximately $55,000. Virtu Financial LLC owned about 0.05% of Martin Midstream Partners at the end of the most recent reporting period. 34.90% of the stock is currently owned by institutional investors.

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.