Martin Midstream Partners L.P. Declares Quarterly Dividend of $0.01 (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLPGet Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Tuesday, February 7th will be paid a dividend of 0.005 per share by the pipeline company on Tuesday, February 14th. This represents a $0.02 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, February 6th.

Martin Midstream Partners has decreased its dividend by an average of 74.8% per year over the last three years. Martin Midstream Partners has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Martin Midstream Partners to earn $0.05 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 40.0%.

Martin Midstream Partners Stock Down 1.2 %

Martin Midstream Partners stock opened at $3.25 on Wednesday. Martin Midstream Partners has a 52-week low of $2.57 and a 52-week high of $5.98. The firm has a market capitalization of $126.26 million, a price-to-earnings ratio of 162.50 and a beta of 2.01. The firm has a 50-day moving average price of $3.18 and a two-hundred day moving average price of $3.55.

Martin Midstream Partners (NASDAQ:MMLPGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The pipeline company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.11). The company had revenue of $229.31 million during the quarter. Martin Midstream Partners had a negative return on equity of 42.43% and a net margin of 0.06%. Research analysts expect that Martin Midstream Partners will post 0.05 earnings per share for the current year.

Insider Activity

In related news, Director Ruben S. Martin acquired 95,408 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was acquired at an average cost of $3.03 per share, for a total transaction of $289,086.24. Following the completion of the acquisition, the director now directly owns 2,986,986 shares of the company’s stock, valued at approximately $9,050,567.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased 100,208 shares of company stock worth $304,613 over the last three months. Corporate insiders own 17.00% of the company’s stock.

Institutional Trading of Martin Midstream Partners

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Martin Midstream Partners by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock worth $2,748,000 after buying an additional 2,458 shares in the last quarter. UBS Group AG lifted its position in Martin Midstream Partners by 10.6% in the 1st quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock worth $177,000 after buying an additional 4,028 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Martin Midstream Partners during the 3rd quarter valued at $39,000. BNP Paribas Arbitrage SA raised its holdings in shares of Martin Midstream Partners by 35.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock valued at $486,000 after purchasing an additional 31,999 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Martin Midstream Partners during the 1st quarter valued at $140,000. 34.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MMLP. StockNews.com cut shares of Martin Midstream Partners from a “strong-buy” rating to a “hold” rating in a report on Friday, November 4th. TheStreet cut shares of Martin Midstream Partners from a “c” rating to a “d” rating in a report on Thursday, November 3rd.

Martin Midstream Partners Company Profile

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Martin Midstream Partners LP engages in a diverse set of operations focused primarily in the United States Gulf Coast region. It operates through the following segments: Terminalling and Storage, Transportation, Sulfur Services, and Natural Gas Liquids. The Terminalling and Storage segment offers storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of various grades and quantities of industrial, commercial, and automotive lubricants and greases.

See Also

Dividend History for Martin Midstream Partners (NASDAQ:MMLP)

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