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

StockNews.com initiated coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research report report published on Tuesday. The brokerage issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock opened at $3.99 on Tuesday. The firm’s 50 day simple moving average is $3.70 and its 200 day simple moving average is $3.34. The firm has a market capitalization of $155.42 million, a PE ratio of 44.28 and a beta of 2.12. Martin Midstream Partners has a 1-year low of $2.04 and a 1-year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last posted its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $170.93 million for the quarter, compared to the consensus estimate of $176.43 million. Martin Midstream Partners had a negative return on equity of 10.46% and a net margin of 0.90%. During the same period last year, the company posted ($0.03) EPS. Research analysts forecast that Martin Midstream Partners will post 0.13 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Thursday, November 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is presently 22.22%.

Hedge Funds Weigh In On Martin Midstream Partners

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of Martin Midstream Partners in the 1st quarter worth $55,000. Acadian Asset Management LLC bought a new position in shares of Martin Midstream Partners in the 1st quarter worth $50,000. Finally, American National Bank bought a new position in shares of Martin Midstream Partners in the 1st quarter worth $35,000. Institutional investors own 34.90% of the company’s stock.

About Martin Midstream Partners

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.