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

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Thursday, April 17th, Wall Street Journal reports. Stockholders of record on Thursday, May 8th will be paid a dividend of 0.005 per share by the pipeline company on Thursday, May 15th. This represents a $0.02 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 8th.

Martin Midstream Partners Price Performance

NASDAQ:MMLP traded down $0.09 during midday trading on Thursday, hitting $2.65. The company’s stock had a trading volume of 72,114 shares, compared to its average volume of 100,871. Martin Midstream Partners has a fifty-two week low of $2.40 and a fifty-two week high of $4.13. The firm’s 50 day moving average is $3.46 and its 200-day moving average is $3.70. The firm has a market cap of $103.50 million, a P/E ratio of -20.38 and a beta of 1.75.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, April 16th. The pipeline company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. The business had revenue of $192.54 million during the quarter, compared to analysts’ expectations of $187.13 million. During the same period in the previous year, the company posted $0.08 earnings per share. As a group, analysts forecast that Martin Midstream Partners will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Martin Midstream Partners in a research note on Thursday. They issued a “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.