Martin Midstream Partners (NASDAQ:MMLP) Coverage Initiated by Analysts at StockNews.com

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

Martin Midstream Partners Stock Up 2.5 %

MMLP opened at $3.75 on Friday. The stock has a fifty day moving average of $3.59 and a 200-day moving average of $3.75. The firm has a market capitalization of $146.25 million, a P/E ratio of -28.84 and a beta of 2.10. Martin Midstream Partners has a 12-month low of $2.28 and a 12-month high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results 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%. On average, analysts expect that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

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

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds have recently bought and sold shares of the business. US Bancorp DE acquired a new position in Martin Midstream Partners during the fourth quarter worth $32,000. Squarepoint Ops LLC acquired a new stake in shares of Martin Midstream Partners in the fourth quarter valued at about $36,000. CSS LLC IL acquired a new stake in shares of Martin Midstream Partners in the fourth quarter valued at about $100,000. Geode Capital Management LLC grew its position in shares of Martin Midstream Partners by 24.9% in the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 5,966 shares during the last quarter. Finally, AGP Franklin LLC acquired a new stake in shares of Martin Midstream Partners in the fourth quarter valued at about $111,000. 34.90% of the stock is owned by institutional investors and hedge funds.

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.