Martin Midstream Partners L.P. (MMLP) To Go Ex-Dividend on May 7th

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders 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 dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, May 7th.

Martin Midstream Partners has decreased its dividend payment by an average of 47.1% annually over the last three years. Martin Midstream Partners has a payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NASDAQ MMLP opened at $2.66 on Friday. The company has a market cap of $103.74 million, a price-to-earnings ratio of 29.56 and a beta of 2.12. The stock’s fifty day moving average price is $2.51 and its 200 day moving average price is $2.46. Martin Midstream Partners has a 1 year low of $1.95 and a 1 year high of $3.30.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $181.10 million during the quarter, compared to the consensus estimate of $177.85 million. Martin Midstream Partners had a net margin of 0.52% and a negative return on equity of 5.91%. Research analysts expect that Martin Midstream Partners will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Martin Midstream Partners by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,812,783 shares of the pipeline company’s stock worth $4,351,000 after purchasing an additional 66,314 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Martin Midstream Partners by 1.4% during the second quarter. JPMorgan Chase & Co. now owns 558,599 shares of the pipeline company’s stock valued at $1,190,000 after acquiring an additional 7,726 shares during the last quarter. Jane Street Group LLC acquired a new stake in Martin Midstream Partners in the 4th quarter valued at approximately $43,000. Victory Capital Management Inc. purchased a new stake in shares of Martin Midstream Partners in the 4th quarter valued at $67,000. Finally, HighTower Advisors LLC boosted its holdings in Martin Midstream Partners by 59.8% during the 4th quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 6,016 shares during the period. 34.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.