Martin Midstream Partners L.P. (MMLP) Plans $0.50 Quarterly Dividend

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Monday, January 22nd, Wall Street Journal reports. Stockholders of record on Wednesday, February 7th will be given a dividend of 0.50 per share by the pipeline company on Wednesday, February 14th. This represents a $2.00 annualized dividend and a dividend yield of 12.42%. The ex-dividend date of this dividend is Tuesday, February 6th.

Shares of Martin Midstream Partners (NASDAQ:MMLP) traded up $0.50 during midday trading on Monday, reaching $16.10. 224,944 shares of the company traded hands, compared to its average volume of 151,331. The stock has a market cap of $618.99, a price-to-earnings ratio of 35.00 and a beta of 1.49. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04. Martin Midstream Partners has a 12 month low of $12.70 and a 12 month high of $20.90.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.11). Martin Midstream Partners had a return on equity of 7.84% and a net margin of 1.84%. research analysts predict that Martin Midstream Partners will post 0.34 EPS for the current fiscal year.

Several brokerages recently commented on MMLP. Zacks Investment Research lowered shares of Martin Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 17th. BidaskClub raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. B. Riley set a $18.00 price target on shares of Martin Midstream Partners and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $18.00 price target on shares of Martin Midstream Partners in a report on Friday, October 27th. Finally, Stifel Nicolaus cut their price target on shares of Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.33.

In other Martin Midstream Partners news, CFO Robert D. Bondurant bought 2,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were bought at an average price of $13.58 per share, with a total value of $27,160.00. Following the purchase, the chief financial officer now directly owns 39,314 shares in the company, valued at approximately $533,884.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ruben S. Martin bought 5,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were acquired at an average cost of $13.61 per share, for a total transaction of $68,050.00. Following the purchase, the insider now owns 140,598 shares in the company, valued at $1,913,538.78. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 9,603 shares of company stock worth $133,053. 17.00% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Martin Midstream Partners stock. The Manufacturers Life Insurance Company grew its holdings in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 192.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,543 shares of the pipeline company’s stock after purchasing an additional 6,280 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Martin Midstream Partners were worth $167,000 at the end of the most recent quarter. 30.39% of the stock is currently owned by institutional investors.

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Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

Dividend History for Martin Midstream Partners (NASDAQ:MMLP)

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