Martin Midstream Partners (MMLP) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Martin Midstream Partners (NASDAQ:MMLP) posted its earnings results on Wednesday. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.12, Briefing.com reports. Martin Midstream Partners had a return on equity of 7.84% and a net margin of 1.84%. During the same quarter in the previous year, the firm earned $0.49 EPS.

Martin Midstream Partners (NASDAQ MMLP) traded up $0.30 during midday trading on Wednesday, hitting $15.55. The company 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 one year low of $12.70 and a one year high of $20.55. The company has a market capitalization of $586.31, a price-to-earnings ratio of 33.80 and a beta of 1.53.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 12.86%. Martin Midstream Partners’s dividend payout ratio is presently 434.78%.

An institutional investor recently raised its position in Martin Midstream Partners stock. The Manufacturers Life Insurance Company lifted its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 192.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 30.21% of the company’s stock.

Several equities analysts have recently issued reports on MMLP shares. B. Riley reissued a “buy” rating and set a $18.00 target price on shares of Martin Midstream Partners in a research note on Monday, December 18th. Zacks Investment Research raised Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, October 18th. 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 restated a “hold” rating and set a $18.00 price target on shares of Martin Midstream Partners in a research report on Friday, October 27th. Finally, Stifel Nicolaus dropped their price target on Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.33.

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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.

Earnings History for Martin Midstream Partners (NASDAQ:MMLP)

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