JPMorgan Chase & Co. Purchases 140,196 Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP)

JPMorgan Chase & Co. increased its holdings in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 24.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 713,930 shares of the pipeline company’s stock after buying an additional 140,196 shares during the period. JPMorgan Chase & Co. owned 1.83% of Martin Midstream Partners worth $2,563,000 as of its most recent SEC filing.

Separately, Raymond James Financial Inc. bought a new stake in shares of Martin Midstream Partners during the 4th quarter valued at about $124,000. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a research note on Thursday, April 17th. They issued a “buy” rating on the stock.

Martin Midstream Partners Stock Performance

NASDAQ MMLP opened at $2.68 on Wednesday. Martin Midstream Partners L.P. has a 52-week low of $2.50 and a 52-week high of $4.13. The company has a fifty day moving average of $3.38 and a 200-day moving average of $3.67. The company has a market capitalization of $104.67 million, a P/E ratio of -20.61 and a beta of 1.75.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, April 16th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $192.54 million for the quarter, compared to the consensus estimate of $187.13 million. Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. During the same period last year, the firm earned $0.08 EPS. As a group, analysts forecast that Martin Midstream Partners L.P. will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 8th. Martin Midstream Partners’s dividend payout ratio is currently -8.33%.

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.