Martin Midstream Partners L.P. (NASDAQ:MMLP) Plans Quarterly Dividend of $0.01

Martin Midstream Partners L.P. (NASDAQ:MMLP) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.005 per share by the pipeline company on Wednesday, May 15th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, May 7th.

Martin Midstream Partners has decreased its dividend payment by an average of 47.1% annually over the last three years. Martin Midstream Partners has a payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Martin Midstream Partners to earn $0.26 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 7.7%.

Martin Midstream Partners Price Performance

NASDAQ MMLP opened at $2.66 on Friday. The company has a market capitalization of $103.74 million, a price-to-earnings ratio of 29.56 and a beta of 2.12. Martin Midstream Partners has a 12 month low of $1.95 and a 12 month high of $3.30. The company’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.46.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. Martin Midstream Partners had a negative return on equity of 5.91% and a net margin of 0.52%. The company had revenue of $181.10 million during the quarter, compared to analyst estimates of $177.85 million. As a group, analysts anticipate that Martin Midstream Partners will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Martin Midstream Partners

A number of large investors have recently bought and sold shares of MMLP. Goldman Sachs Group Inc. raised its position in shares of Martin Midstream Partners by 4.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,958,380 shares of the pipeline company’s stock worth $4,211,000 after purchasing an additional 91,816 shares during the period. JPMorgan Chase & Co. increased its position in Martin Midstream Partners by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock worth $2,748,000 after buying an additional 2,458 shares during the period. Raymond James & Associates lifted its stake in Martin Midstream Partners by 351.9% in the first quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company’s stock valued at $1,755,000 after buying an additional 325,461 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Martin Midstream Partners by 35.5% during the second quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock valued at $486,000 after acquiring an additional 31,999 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Martin Midstream Partners by 10.6% during the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 4,028 shares during the period. Institutional investors own 34.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a research note on Wednesday. They set a “strong-buy” rating for the company.

About Martin Midstream Partners

Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, storage, and packaging services for petroleum products and by-products primarily in the United States. The company operates in four segments: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products.