Martin Midstream Partners L.P. Plans Quarterly Dividend of $0.78 (MMLP)
Martin Midstream Partners L.P. (NASDAQ:MMLP) announced a quarterly dividend on Thursday, October 24th, AnalystRatingsNetwork.com reports. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.7825 per share on Thursday, November 14th. This represents a $3.13 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Tuesday, November 5th.
Several analysts have recently commented on the stock. Analysts at Raymond James upgraded shares of Martin Midstream Partners L.P. from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, August 15th. They now have a $46.00 price target on the stock. On a related note, analysts at RBC Capital raised their price target on shares of Martin Midstream Partners L.P. from $42.00 to $44.00 in a research note to investors on Wednesday, August 7th. Finally, analysts at Bank of America Corp. reiterated a “neutral” rating on shares of Martin Midstream Partners L.P. in a research note to investors on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Martin Midstream Partners L.P. has an average rating of “Hold” and a consensus price target of $42.00.
Martin Midstream Partners L.P. (NASDAQ:MMLP) traded up 0.04% on Friday, hitting $48.27. 37,063 shares of the company’s stock traded hands. Martin Midstream Partners L.P. has a 52 week low of $30.03 and a 52 week high of $48.60. The stock has a 50-day moving average of $44.77 and a 200-day moving average of $42.20. The company has a market cap of $1.285 billion and a P/E ratio of 11.79.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last released its earnings data on Wednesday, July 31st. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.50 by $0.17. The company had revenue of $358.20 million for the quarter, compared to the consensus estimate of $369.77 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis.
Martin Midstream Partners L.P. is a limited partnership with a diverse set of operations focused in the United States Gulf Coast region.
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