Martin Midstream Partners L.P. (NASDAQ:MMLP) shares rose 5.9% during trading on Tuesday . The company traded as high as $4.15 and last traded at $4.10, approximately 173,744 shares traded hands during mid-day trading. A decline of 31% from the average daily volume of 252,381 shares. The stock had previously closed at $3.87.
Several research firms recently weighed in on MMLP. BidaskClub upgraded Martin Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Zacks Investment Research raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.
The stock has a market capitalization of $159.34 million, a price-to-earnings ratio of -21.58 and a beta of 1.21. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 2.31. The company’s 50 day moving average is $4.55 and its 200 day moving average is $8.00.
Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, July 24th. The pipeline company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.40). Martin Midstream Partners had a negative net margin of 18.38% and a negative return on equity of 15.28%. The company had revenue of $187.32 million during the quarter, compared to analyst estimates of $181.97 million. Analysts anticipate that Martin Midstream Partners L.P. will post -0.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a $0.25 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 24.39%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -526.32%.
A number of large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. purchased a new stake in Martin Midstream Partners in the second quarter valued at approximately $58,885,000. Morgan Stanley increased its holdings in shares of Martin Midstream Partners by 59.3% in the 2nd quarter. Morgan Stanley now owns 462,442 shares of the pipeline company’s stock valued at $3,303,000 after acquiring an additional 172,157 shares during the period. Marshall Wace LLP acquired a new position in shares of Martin Midstream Partners in the 2nd quarter valued at $857,000. GSA Capital Partners LLP purchased a new stake in Martin Midstream Partners in the 2nd quarter valued at $651,000. Finally, Geode Capital Management LLC boosted its stake in Martin Midstream Partners by 97.1% during the 4th quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock worth $457,000 after purchasing an additional 21,909 shares during the period. Hedge funds and other institutional investors own 47.55% of the company’s stock.
Martin Midstream Partners Company Profile (NASDAQ:MMLP)
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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