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 report released on Sunday. The brokerage issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Trading Down 2.4 %

Shares of NASDAQ MMLP opened at $3.67 on Friday. The company has a market capitalization of $143.33 million, a price-to-earnings ratio of -28.23 and a beta of 2.08. Martin Midstream Partners has a twelve month low of $2.36 and a twelve month high of $4.13. The business has a 50 day simple moving average of $3.59 and a 200-day simple moving average of $3.75.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share 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%. As a group, equities analysts predict that Martin Midstream Partners will post 0.15 earnings per share for the current year.

Martin Midstream Partners Announces Dividend

The company also recently announced 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. This represents a $0.02 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, February 7th. Martin Midstream Partners’s payout ratio is -15.38%.

Hedge Funds Weigh In On Martin Midstream Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE bought a new position in shares of Martin Midstream Partners in the fourth quarter valued at approximately $32,000. Squarepoint Ops LLC bought a new position in Martin Midstream Partners during the 4th quarter valued at $36,000. CSS LLC IL acquired a new position in shares of Martin Midstream Partners during the 4th quarter valued at $100,000. Geode Capital Management LLC raised its stake in shares of Martin Midstream Partners by 24.9% in the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after buying an additional 5,966 shares in the last quarter. Finally, AGP Franklin LLC acquired a new stake in shares of Martin Midstream Partners in the fourth quarter valued at $111,000. 34.90% of the stock is owned by 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.