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 issued on Thursday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP opened at $3.62 on Thursday. The firm has a fifty day simple moving average of $3.63 and a two-hundred day simple moving average of $3.75. 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 quarterly 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 return on equity of 6.93% and a negative net margin of 0.73%. As a group, analysts predict that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

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

Hedge Funds Weigh In On Martin Midstream Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new stake in shares of Martin Midstream Partners in the 4th quarter worth about $233,000. CSS LLC IL bought a new stake in Martin Midstream Partners during the fourth quarter worth about $100,000. Squarepoint Ops LLC purchased a new stake in Martin Midstream Partners in the fourth quarter worth about $36,000. Nomura Holdings Inc. purchased a new stake in Martin Midstream Partners in the fourth quarter worth about $3,360,000. Finally, Bank of America Corp DE increased its stake in shares of Martin Midstream Partners by 922.4% during the fourth quarter. Bank of America Corp DE now owns 40,232 shares of the pipeline company’s stock valued at $144,000 after purchasing an additional 36,297 shares in the last quarter. 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.