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

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

Martin Midstream Partners Stock Down 1.6 %

Shares of NASDAQ MMLP opened at $3.65 on Monday. Martin Midstream Partners has a 12 month low of $2.36 and a 12 month high of $4.13. The business’s 50 day moving average is $3.63 and its two-hundred day moving average is $3.76. The company has a market cap of $142.55 million, a P/E ratio of -28.07 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (EPS) 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%. Sell-side analysts expect that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

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

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds have recently added to or reduced their stakes in the business. De Lisle Partners LLP lifted its stake in 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. US Bancorp DE purchased a new stake in shares of Martin Midstream Partners in the fourth quarter valued at $32,000. Raymond James Financial Inc. acquired a new stake in shares of Martin Midstream Partners during the fourth quarter valued at $124,000. JPMorgan Chase & Co. boosted its holdings in Martin Midstream Partners by 24.4% in the 4th quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock valued at $2,563,000 after purchasing an additional 140,196 shares during the period. Finally, Gardner Lewis Asset Management L P purchased a new position in shares of Martin Midstream Partners during the fourth quarter worth about $824,000. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

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.