Martin Midstream Partners L.P. (NASDAQ:MMLP – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Tuesday, February 7th will be given a dividend of 0.005 per share by the pipeline company on Tuesday, February 14th. This represents a $0.02 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, February 6th.
Martin Midstream Partners has decreased its dividend payment by an average of 74.8% per year over the last three years. Martin Midstream Partners has a dividend payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Martin Midstream Partners to earn $0.05 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 40.0%.
Martin Midstream Partners Stock Performance
NASDAQ:MMLP opened at $3.25 on Wednesday. Martin Midstream Partners has a one year low of $2.57 and a one year high of $5.98. The stock has a market cap of $126.26 million, a PE ratio of 162.50 and a beta of 2.01. The stock has a 50 day moving average price of $3.18 and a 200 day moving average price of $3.55.
Insider Transactions at Martin Midstream Partners
In related news, Director Ruben S. Martin acquired 95,408 shares of Martin Midstream Partners stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $3.03 per share, for a total transaction of $289,086.24. Following the acquisition, the director now owns 2,986,986 shares in the company, valued at $9,050,567.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 100,208 shares of company stock worth $304,613. 17.00% of the stock is currently owned by company insiders.
Institutional Trading of Martin Midstream Partners
Several institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new stake in shares of Martin Midstream Partners in the third quarter valued at $39,000. Acadian Asset Management LLC acquired a new position in Martin Midstream Partners in the 1st quarter valued at about $140,000. UBS Group AG increased its stake in Martin Midstream Partners by 10.6% during the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock worth $177,000 after purchasing an additional 4,028 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in Martin Midstream Partners during the first quarter worth about $379,000. Finally, Raymond James & Associates lifted its position in shares of Martin Midstream Partners by 351.9% during the first quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company’s stock worth $1,755,000 after purchasing an additional 325,461 shares in the last quarter. Institutional investors and hedge funds own 34.96% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. StockNews.com lowered shares of Martin Midstream Partners from a “strong-buy” rating to a “hold” rating in a report on Friday, November 4th. TheStreet cut Martin Midstream Partners from a “c” rating to a “d” rating in a report on Thursday, November 3rd.
Martin Midstream Partners Company Profile
Martin Midstream Partners LP engages in a diverse set of operations focused primarily in the United States Gulf Coast region. It operates through the following segments: Terminalling and Storage, Transportation, Sulfur Services, and Natural Gas Liquids. The Terminalling and Storage segment offers storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of various grades and quantities of industrial, commercial, and automotive lubricants and greases.
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