Martin Midstream Partners L.P. to Issue Quarterly Dividend of $0.01 (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Wednesday, May 8th will be given a dividend of 0.005 per share by the pipeline company on Wednesday, May 15th. This represents a $0.02 annualized dividend and a yield of 0.75%. The ex-dividend date is Tuesday, May 7th.

Martin Midstream Partners has decreased its dividend payment by an average of 47.1% per year over the last three years. Martin Midstream Partners has a payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Martin Midstream Partners to earn $0.26 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 7.7%.

Martin Midstream Partners Stock Down 2.9 %

Shares of MMLP stock opened at $2.66 on Friday. Martin Midstream Partners has a 12 month low of $1.95 and a 12 month high of $3.30. The company has a market cap of $103.74 million, a PE ratio of 29.56 and a beta of 2.12. The business’s 50 day moving average is $2.51 and its two-hundred day moving average is $2.46.

Martin Midstream Partners (NASDAQ:MMLP) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Martin Midstream Partners had a net margin of 0.52% and a negative return on equity of 5.91%. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $177.85 million. As a group, equities analysts expect that Martin Midstream Partners will post 0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Martin Midstream Partners in a research report on Wednesday. They issued a “strong-buy” rating for the company.

Institutional Trading of Martin Midstream Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Martin Midstream Partners by 4.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,958,380 shares of the pipeline company’s stock valued at $4,211,000 after buying an additional 91,816 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Martin Midstream Partners by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock worth $2,748,000 after acquiring an additional 2,458 shares during the period. Raymond James & Associates raised its holdings in shares of Martin Midstream Partners by 351.9% in the 1st quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company’s stock worth $1,755,000 after buying an additional 325,461 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Martin Midstream Partners by 35.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock worth $486,000 after buying an additional 31,999 shares during the period. Finally, UBS Group AG boosted its stake in Martin Midstream Partners by 10.6% in the 1st quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after buying an additional 4,028 shares in the last quarter. 34.90% of the stock is currently owned by institutional investors and hedge funds.

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.