Martin Midstream Partners (MMLP) Announces Earnings Results

Martin Midstream Partners (NASDAQ:MMLP) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.12, reports. Martin Midstream Partners had a return on equity of 7.84% and a net margin of 1.84%. During the same period in the previous year, the company posted $0.49 EPS.

Martin Midstream Partners (NASDAQ:MMLP) traded up $0.30 on Wednesday, hitting $15.55. The stock had a trading volume of 119,717 shares, compared to its average volume of 159,275. The company has a quick ratio of 0.86, a current ratio of 2.04 and a debt-to-equity ratio of 2.78. Martin Midstream Partners has a 52-week low of $12.70 and a 52-week high of $20.55. The stock has a market capitalization of $586.31, a PE ratio of 33.80 and a beta of 1.53.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a yield of 12.86%. Martin Midstream Partners’s dividend payout ratio (DPR) is currently 434.78%.

A hedge fund recently raised its stake 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 its most recent Form 13F filing with the SEC. The firm owned 9,543 shares of the pipeline company’s stock after buying an additional 6,280 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Martin Midstream Partners were worth $167,000 as of its most recent SEC filing. Institutional investors own 30.21% of the company’s stock.

A number of brokerages have commented on MMLP. Zacks Investment Research raised Martin Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. BidaskClub raised Martin Midstream Partners from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 price target on shares of Martin Midstream Partners in a research note on Friday, October 27th. Finally, B. Riley set a $18.00 price target on Martin Midstream Partners and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.33.

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About Martin Midstream Partners

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.

Earnings History for Martin Midstream Partners (NASDAQ:MMLP)

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