Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) posted its earnings results on Wednesday. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10), Zacks reports. The firm had revenue of $231.73 million during the quarter, compared to the consensus estimate of $207.80 million.
Martin Midstream Partners Trading Up 2.4%
Shares of Martin Midstream Partners stock opened at $2.17 on Friday. Martin Midstream Partners has a 1 year low of $1.76 and a 1 year high of $3.24. The company has a 50 day simple moving average of $2.19 and a two-hundred day simple moving average of $2.39.
Martin Midstream Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be given a $0.0050 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 6th. Martin Midstream Partners’s dividend payout ratio is -5.26%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Martin Midstream Partners in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $3.00.
View Our Latest Analysis on Martin Midstream Partners
About Martin Midstream Partners
Martin Midstream Partners, L.P. was a publicly traded master limited partnership focused on the gathering, processing, storage, transportation and marketing of petroleum products and related materials. The partnership operated assets serving energy producers, refiners, chemical manufacturers and other industrial customers.
Its business activities included terminal and storage services, marine and inland transportation, natural gas liquids operations, sulfur services and specialty products.
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