Martin Midstream Partners (NASDAQ:MMLP) announced its earnings results on Wednesday. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12, 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 prior year, the firm earned $0.49 earnings per share.

Martin Midstream Partners (MMLP) traded up $0.30 on Wednesday, reaching $15.55. The company’s stock had a trading volume of 119,717 shares, compared to its average volume of 159,275. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04. The company has a market capitalization of $586.31, a P/E ratio of 33.80 and a beta of 1.53. Martin Midstream Partners has a twelve month low of $12.70 and a twelve month high of $20.55.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a yield of 12.86%. Martin Midstream Partners’s dividend payout ratio (DPR) is 434.78%.

A hedge fund recently raised its stake in Martin Midstream Partners stock. The Manufacturers Life Insurance Company boosted its position in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 192.5% in the second quarter, according to the company in its most recent disclosure with the Securities and 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 at the end of the most recent quarter. 30.21% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently commented on MMLP. Zacks Investment Research upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, October 18th. BidaskClub upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Stifel Nicolaus decreased their target price on Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, October 26th. Royal Bank of Canada restated a “hold” rating and set a $18.00 target price on shares of Martin Midstream Partners in a report on Friday, October 27th. Finally, B. Riley reiterated a “buy” rating and issued a $18.00 price objective on shares of Martin Midstream Partners in a report on Monday, December 18th. One 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. Martin Midstream Partners currently has a consensus rating of “Hold” and an average price target of $19.33.

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About Martin Midstream Partners

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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