Martin Midstream Partners L.P. (NASDAQ:MMLP – Get Free Report) 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.
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.
View Our Latest Analysis on Martin Midstream Partners
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.
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