Martin Midstream Partners (NASDAQ:MMLP) Announces Quarterly Earnings Results

Martin Midstream Partners (NASDAQ:MMLPGet Rating) posted its earnings results on Wednesday. The pipeline company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01, MarketWatch Earnings reports. During the same quarter in the prior year, the firm posted $0.06 earnings per share.

Martin Midstream Partners stock opened at $5.60 on Thursday. The firm has a 50 day simple moving average of $4.01 and a 200-day simple moving average of $3.38. The stock has a market capitalization of $217.49 million, a PE ratio of -560.00 and a beta of 2.50. Martin Midstream Partners has a 12-month low of $2.02 and a 12-month high of $5.98.

The company also recently announced a quarterly dividend, which was paid on Monday, February 14th. Shareholders of record on Monday, February 7th were given a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Friday, February 4th. Martin Midstream Partners’s dividend payout ratio (DPR) is -200.00%.

MMLP has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Martin Midstream Partners in a research report on Saturday, March 26th. They issued a “strong-buy” rating for the company. Zacks Investment Research cut shares of Martin Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, December 22nd.

In related news, Director Ruben S. Martin acquired 47,740 shares of the firm’s stock in a transaction dated Monday, February 28th. The stock was acquired at an average cost of $3.19 per share, for a total transaction of $152,290.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ruben S. Martin acquired 27,000 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was bought at an average price of $3.24 per share, with a total value of $87,480.00. The disclosure for this purchase can be found here. Insiders bought 309,017 shares of company stock valued at $1,048,385 over the last quarter. Insiders own 17.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in MMLP. Morgan Stanley lifted its stake in Martin Midstream Partners by 171.7% during the second quarter. Morgan Stanley now owns 107,427 shares of the pipeline company’s stock valued at $324,000 after purchasing an additional 67,894 shares during the last quarter. Bank of America Corp DE lifted its stake in Martin Midstream Partners by 57.2% during the second quarter. Bank of America Corp DE now owns 28,287 shares of the pipeline company’s stock valued at $86,000 after purchasing an additional 10,293 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Martin Midstream Partners by 173.4% during the second quarter. Wells Fargo & Company MN now owns 10,639 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 6,748 shares during the last quarter. Geode Capital Management LLC lifted its stake in Martin Midstream Partners by 15.2% during the third quarter. Geode Capital Management LLC now owns 33,068 shares of the pipeline company’s stock valued at $105,000 after purchasing an additional 4,359 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in Martin Midstream Partners during the third quarter valued at approximately $40,000. 55.20% of the stock is owned by institutional investors and hedge funds.

Martin Midstream Partners Company Profile (Get Rating)

Martin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 15 marine shore-based terminal facilities and 13 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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Earnings History for Martin Midstream Partners (NASDAQ:MMLP)

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