JPMorgan Chase & Co. Acquires 140,196 Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP)

JPMorgan Chase & Co. grew its stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 24.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 713,930 shares of the pipeline company’s stock after purchasing an additional 140,196 shares during the quarter. JPMorgan Chase & Co.’s holdings in Martin Midstream Partners were worth $2,563,000 at the end of the most recent quarter.

Separately, US Bancorp DE purchased a new stake in Martin Midstream Partners during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

Martin Midstream Partners Stock Up 0.4 %

Shares of NASDAQ MMLP opened at $2.68 on Wednesday. The firm’s fifty day moving average is $3.38 and its 200 day moving average is $3.67. Martin Midstream Partners L.P. has a 52 week low of $2.50 and a 52 week high of $4.13. The company has a market cap of $104.67 million, a price-to-earnings ratio of -20.61 and a beta of 1.75.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, April 16th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $192.54 million during the quarter, compared to analysts’ expectations of $187.13 million. Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. During the same quarter in the previous year, the firm posted $0.08 EPS. Equities research analysts anticipate that Martin Midstream Partners L.P. will post 0.15 earnings per share for the current year.

Martin Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, May 8th. Martin Midstream Partners’s dividend payout ratio (DPR) is currently -8.33%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Martin Midstream Partners in a research note on Thursday, April 17th. They issued a “buy” rating on the 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.