Martin Midstream Partners (NASDAQ:MMLP) Earns Buy Rating from Analysts at StockNews.com

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

Martin Midstream Partners Stock Performance

Shares of MMLP opened at $3.97 on Friday. The firm has a market cap of $154.83 million, a price-to-earnings ratio of 39.70 and a beta of 2.10. Martin Midstream Partners has a fifty-two week low of $2.04 and a fifty-two week high of $4.13. The firm has a 50 day moving average price of $3.88 and a 200-day moving average price of $3.58.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data 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). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. The business had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, equities research analysts predict that Martin Midstream Partners will post 0.16 earnings per share for the current year.

Martin Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.005 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.50%. Martin Midstream Partners’s dividend payout ratio is currently 20.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MMLP. De Lisle Partners LLP increased its position in Martin Midstream Partners by 13.0% during the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock valued at $953,000 after purchasing an additional 30,000 shares during the period. Virtu Financial LLC purchased a new position in Martin Midstream Partners during the 1st quarter valued at $55,000. Finally, Acadian Asset Management LLC purchased a new position in Martin Midstream Partners during the 1st quarter valued at $50,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

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.