Martin Midstream Partners L.P. (NASDAQ:MMLP) – Equities research analysts at Capital One Financial lowered their FY2018 earnings per share estimates for shares of Martin Midstream Partners in a report released on Thursday, February 14th. Capital One Financial analyst K. May now forecasts that the pipeline company will earn $0.12 per share for the year, down from their previous estimate of $0.14. Capital One Financial also issued estimates for Martin Midstream Partners’ Q4 2018 earnings at $0.22 EPS and FY2020 earnings at $0.82 EPS.
Get Martin Midstream Partners alerts:Several other research firms have also commented on MMLP. Zacks Investment Research lowered Martin Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. ValuEngine raised Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. BidaskClub raised Martin Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 2nd. Finally, Raymond James cut their price objective on Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.83.
NASDAQ MMLP opened at $12.30 on Friday. Martin Midstream Partners has a 52 week low of $9.13 and a 52 week high of $16.75. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.03 and a current ratio of 2.28. The firm has a market cap of $491.24 million, a PE ratio of 27.95, a P/E/G ratio of 9.19 and a beta of 1.27.
Several large investors have recently modified their holdings of MMLP. Bank of America Corp DE increased its position in shares of Martin Midstream Partners by 26.4% during the 2nd quarter. Bank of America Corp DE now owns 31,454 shares of the pipeline company’s stock worth $434,000 after purchasing an additional 6,564 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Martin Midstream Partners by 10.8% during the 2nd quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock worth $597,000 after purchasing an additional 4,226 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Martin Midstream Partners during the 3rd quarter worth about $449,000. ING Groep NV acquired a new position in Martin Midstream Partners in the 3rd quarter valued at about $457,000. Finally, Rational Advisors LLC grew its position in Martin Midstream Partners by 38.8% in the 3rd quarter. Rational Advisors LLC now owns 63,710 shares of the pipeline company’s stock valued at $739,000 after acquiring an additional 17,810 shares in the last quarter. 25.88% of the stock is owned by hedge funds and other institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Thursday, February 7th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 16.26%. The ex-dividend date was Wednesday, February 6th. Martin Midstream Partners’s payout ratio is 454.55%.
About Martin Midstream Partners
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 22 marine shore-based terminal facilities and 16 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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