Martin Midstream Partners (NASDAQ:MMLP) Issues Earnings Results

Martin Midstream Partners (NASDAQ:MMLP) posted its quarterly earnings data on Wednesday. The pipeline company reported ($0.17) EPS for the quarter, Zacks reports.

Martin Midstream Partners Price Performance

NASDAQ:MMLP traded up $0.03 during midday trading on Wednesday, reaching $2.80. The stock had a trading volume of 78,908 shares, compared to its average volume of 15,255. Martin Midstream Partners has a 1-year low of $2.21 and a 1-year high of $3.54. The firm’s fifty day simple moving average is $2.76 and its 200-day simple moving average is $2.73. The stock has a market capitalization of $109.35 million, a P/E ratio of -7.57 and a beta of 0.57.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a $0.005 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.02 dividend on an annualized basis and a yield of 0.7%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -5.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MMLP. Bank of America Corp DE grew its stake in Martin Midstream Partners by 216.0% in the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after buying an additional 397,163 shares during the last quarter. Susquehanna International Group LLP grew its stake in Martin Midstream Partners by 298.9% in the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after buying an additional 33,064 shares during the last quarter. Jane Street Group LLC grew its stake in Martin Midstream Partners by 139.3% in the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after buying an additional 14,010 shares during the last quarter. Citadel Advisors LLC acquired a new position in Martin Midstream Partners in the 3rd quarter valued at $41,000. Finally, Commerce Bank acquired a new stake in Martin Midstream Partners in the 4th quarter worth $28,000. 34.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MMLP has been the topic of a number of recent research reports. Stifel Nicolaus cut their price target on shares of Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d)” rating on shares of Martin Midstream Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $3.00.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.