Martin Midstream Partners (NASDAQ:MMLP) Posts Earnings Results, Meets Expectations

Martin Midstream Partners (NASDAQ:MMLP) posted its earnings results on Wednesday. The pipeline company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10), Zacks reports. The firm had revenue of $231.73 million for the quarter, compared to analysts’ expectations of $207.80 million.

Martin Midstream Partners Stock Up 3.4%

MMLP stock opened at $2.12 on Thursday. The company has a 50-day simple moving average of $2.19 and a 200 day simple moving average of $2.39. The company has a market capitalization of $82.94 million, a P/E ratio of -5.58 and a beta of 0.51. Martin Midstream Partners has a fifty-two week low of $1.76 and a fifty-two week high of $3.24.

Martin Midstream Partners Announces Dividend

The firm also recently announced 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 yield of 0.9%. The ex-dividend date is Friday, November 6th. Martin Midstream Partners’s dividend payout ratio (DPR) is currently -5.26%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Martin Midstream Partners in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $3.00.

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.