Martin Midstream Partners L.P. (MMLP) Shares Up 3.7%
Martin Midstream Partners L.P. (NASDAQ:MMLP) shot up 3.7% during trading on Friday . The stock traded as high as $20.91 and last traded at $20.78, with a volume of 134,665 shares traded. The stock had previously closed at $20.04.
Separately, Zacks Investment Research upgraded shares of Martin Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Martin Midstream Partners L.P. has an average rating of “Hold” and a consensus price target of $22.20.
The company has a 50 day moving average of $22.91 and a 200-day moving average of $20.52. The firm has a market cap of $736.38 million and a price-to-earnings ratio of 84.09.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.38. The company earned $190.35 million during the quarter, compared to analysts’ expectations of $225.13 million. During the same quarter in the previous year, the business earned $0.19 EPS. Martin Midstream Partners L.P.’s revenue was down 24.2% compared to the same quarter last year. Equities research analysts anticipate that Martin Midstream Partners L.P. will post $0.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, August 5th will be paid a dividend of $0.8125 per share. This represents a $3.25 annualized dividend and a yield of 16.22%. The ex-dividend date of this dividend is Wednesday, August 3rd.
Martin Midstream Partners L.P. is a limited partnership company with operations focused in the United States Gulf Coast region. The Company’s segments include Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Company owns or operates approximately 30 marine shore-based terminal facilities and over 20 specialty terminal facilities located in the United States.
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