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