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

Martin Midstream Partners L.P. (NASDAQ:MMLP) declared a quarterly dividend on Wednesday, July 17th, Zacks reports. Investors of record on Wednesday, August 7th will be given 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 yield of 0.55%. The ex-dividend date of this dividend 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

MMLP traded down $0.22 during mid-day trading on Tuesday, reaching $3.62. 78,049 shares of the stock were exchanged, compared to its average volume of 78,176. The company has a 50 day moving average price of $3.40 and a two-hundred day moving average price of $2.86. The stock has a market capitalization of $141.18 million, a PE ratio of 40.22 and a beta of 2.21. Martin Midstream Partners has a 1 year low of $2.04 and a 1 year high of $4.13.

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

Analyst Upgrades and Downgrades

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

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.