Martin Midstream Partners (NASDAQ:MMLP) Posts Earnings Results

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

Martin Midstream Partners Price Performance

Shares of Martin Midstream Partners stock traded up $0.03 during trading on Wednesday, hitting $2.80. 78,908 shares of the company’s stock traded hands, compared to its average volume of 15,255. The firm’s fifty day moving average price is $2.76 and its 200 day moving average price is $2.73. Martin Midstream Partners has a twelve month low of $2.21 and a twelve month high of $3.54. The company has a market cap of $109.35 million, a PE ratio of -7.57 and a beta of 0.57.

Martin Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 6th. Martin Midstream Partners’s payout ratio is -5.41%.

Institutional Trading of Martin Midstream Partners

Several institutional investors have recently made changes to their positions in the business. Artisan Partners Limited Partnership boosted its position in shares of Martin Midstream Partners by 7.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock valued at $300,000 after acquiring an additional 7,596 shares in the last quarter. Commerce Bank acquired a new stake in shares of Martin Midstream Partners during the 4th quarter valued at about $28,000. Citadel Advisors LLC acquired a new stake in shares of Martin Midstream Partners during the 3rd quarter valued at about $41,000. Jane Street Group LLC boosted its position in shares of Martin Midstream Partners by 139.3% during the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after acquiring an additional 14,010 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its position in shares of Martin Midstream Partners by 298.9% during the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after acquiring an additional 33,064 shares in the last quarter. 34.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stifel Nicolaus cut their price objective on shares of Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Martin Midstream Partners in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $3.00.

About Martin Midstream Partners

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.