Martin Midstream Partners (NASDAQ:MMLP) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research report sent to investors on Sunday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Price Performance

Shares of MMLP stock opened at $3.74 on Friday. Martin Midstream Partners has a 1-year low of $2.36 and a 1-year high of $4.13. The stock’s fifty day moving average price is $3.57 and its 200 day moving average price is $3.75. The company has a market cap of $146.07 million, a price-to-earnings ratio of -28.77 and a beta of 2.08.

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

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a dividend of $0.005 per share. The ex-dividend date was Friday, February 7th. This represents a $0.02 annualized dividend and a yield of 0.53%. Martin Midstream Partners’s payout ratio is presently -15.38%.

Institutional Trading of Martin Midstream Partners

Several large investors have recently added to or reduced their stakes in MMLP. Nomura Holdings Inc. purchased a new stake in Martin Midstream Partners during the 4th quarter valued at about $3,360,000. Nexpoint Asset Management L.P. purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $1,636,000. Gardner Lewis Asset Management L P purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $824,000. Tiptree Advisors LLC purchased a new stake in shares of Martin Midstream Partners in the fourth quarter worth about $524,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Martin Midstream Partners by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after buying an additional 140,196 shares during the last quarter. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

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.