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

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Wednesday, July 17th, Zacks reports. Stockholders of record on Wednesday, August 7th will be paid a dividend of 0.005 per share by the pipeline company on Wednesday, August 14th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, August 7th.

Martin Midstream Partners has decreased its dividend by an average of 47.1% annually over the last three years. Martin Midstream Partners has a payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Martin Midstream Partners to earn $0.16 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 12.5%.

Martin Midstream Partners Stock Down 5.7 %

Shares of NASDAQ MMLP traded down $0.22 during midday trading on Tuesday, reaching $3.62. 78,049 shares of the company’s stock traded hands, compared to its average volume of 78,176. The stock’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $2.86. The company has a market cap of $141.18 million, a price-to-earnings ratio of 40.22 and a beta of 2.21. Martin Midstream Partners has a one year low of $2.04 and a one year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last posted its earnings results on Wednesday, July 17th. The pipeline company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Martin Midstream Partners had a negative return on equity of 10.46% and a net margin of 0.90%. The company had revenue of $184.53 million for the quarter, compared to analyst estimates of $193.91 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities analysts predict that Martin Midstream Partners will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Martin Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

Martin Midstream Partners Company Profile

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.