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

StockNews.com started coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note released on Monday morning. The brokerage issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

Martin Midstream Partners stock opened at $3.66 on Monday. The firm has a market capitalization of $142.94 million, a P/E ratio of -28.15 and a beta of 2.08. The stock has a fifty day moving average price of $3.63 and a two-hundred day moving average price of $3.76. Martin Midstream Partners has a 52-week low of $2.36 and a 52-week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. On average, equities research analysts predict that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, February 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -15.38%.

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Martin Midstream Partners by 24.9% in the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 5,966 shares during the last quarter. US Bancorp DE acquired a new stake in Martin Midstream Partners in the fourth quarter worth $32,000. Squarepoint Ops LLC acquired a new position in shares of Martin Midstream Partners in the 4th quarter valued at $36,000. CSS LLC IL acquired a new position in shares of Martin Midstream Partners in the 4th quarter valued at $100,000. Finally, De Lisle Partners LLP increased its position in shares of Martin Midstream Partners by 13.0% in the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock valued at $953,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds 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.