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

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

Martin Midstream Partners Stock Down 0.5 %

MMLP opened at $3.63 on Friday. The business’s fifty day simple moving average is $3.55 and its 200 day simple moving average is $3.75. Martin Midstream Partners has a 52 week low of $2.36 and a 52 week high of $4.13. The stock has a market cap of $141.77 million, a PE ratio of -27.92 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) EPS for the quarter, missing the consensus estimate 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%. As a group, equities analysts anticipate that Martin Midstream Partners 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 was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.005 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.55%. Martin Midstream Partners’s payout ratio is -15.38%.

Hedge Funds Weigh In On Martin Midstream Partners

Several institutional investors and hedge funds have recently made changes to their positions in MMLP. Nomura Holdings Inc. bought a new stake in Martin Midstream Partners in the fourth quarter worth $3,360,000. JPMorgan Chase & Co. increased its holdings 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 period. Nexpoint Asset Management L.P. bought a new stake in shares of Martin Midstream Partners in the 4th quarter valued at about $1,636,000. De Lisle Partners LLP boosted its holdings in Martin Midstream Partners by 13.0% during the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock valued at $953,000 after acquiring an additional 30,000 shares during the period. Finally, Gardner Lewis Asset Management L P bought a new position in Martin Midstream Partners during the 4th quarter worth approximately $824,000. 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.