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Martin Midstream Partners L.P. (MMLP)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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At close: 4:00PM EDT
1,055 reactions on $MMLP conversation
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So what will we hear today….
Issues related to Covid of course.
They remain focused on debt reduction. But will debt be any lower???
I’m afraid just more of the same in the same vague terms.
anybody holding this? I added to my position. Seems like a lot of Midstream companies are going higher. This should go higher as well. Earnings look like they might be turning around. Looking to get my money back!!! GLTA
Hey Buckrig. Been awhile. Vacation in Co spending all that mmlp div! Took about 2 sec. almost out of mmlp stock. reinvested in SUN and IEP. Take a few years to make up the loss but not worth holding martin anymore. Take care my friend!
A lot of interesting things happening here. The last time it closed below $3 was on Aug 10th. The volume has gone from 727,500 on Aug 18th to 54,500 on Aug 20th. On Aug 6th the volume was over a million. As Jim pointed out they have stretched out their debt to make the current looks better. Yet, the price holds above $3.00. It makes me wonder if they really do have a future. Hmm, could be!
woohoo!!! up we go tomorrow!!
Yahoo Finance Insights
Martin Midstream Partners L.P is up 10.23% to 3.30
Yahoo Finance Insights
Martin Midstream Partners L.P is up 9.30% to 3.29
I am 57 years old and super high dividend stocks are and always will be a mistake to invest in. Unfortunately I needed a refresher course apparently when I invested in mmlp at an average of 25. Any mlp that yields in excess of 8 percent is high yield and risk increases as yield increases. Of course there is a little more to the equation but that is the basic equation. Life experience gives me the odds if I invested in 10 different mlp’s yielding 14%, I would be lucky to have half my money in 10 years, even after Div payouts. One or 2 of the 10 will recover fully in price, the other 8, 2 or 3 bankruptcy. The rest just struggle.
Will mmlp be one of the 2 winners in my scenario? Possible but it’s the luck of the draw.
so anyone know what happened today? ...besides the obvious price drop?
Consider: Their most recent power point for their December 11th Wells Fargo Midstream Conference on page 12 states that Dividend Distribution coverage is forecast to jump from 0.84x in Q3 to 1.70x in Q4. I can tell you they would not state that number 75 days into the 90 day quarter if that number was not going to be close. If they are close to this number, it should finally give some confidence into this stock, which has been driven into the ground by not just management mistakes but mother nature (ie: midwest storms that destroyed, yet delayed sulfur demand). Therefore, I don't see the dividend cut at all. If management can stop missing quarterly estimates in the next few quarters that yield per unit is going to be cut in half as the stock rises back to $8. Its worth the risk.
Rubin makes $13,000,000 per year in dividends alone. He is not going to cut the dividend, especially with the accretive Transport acquisition recently completed. There is also the fact that new Permian pipes will soon be delivery large amounts of crude to Cushing storage, which will boost demand for MMLP storage. And there are many other things that will boost the company's profits. Not much longer till we see this, maybe next quarter.
I've owned MMLP on and off since 2013 and have made a lot and lost a lot! I bought in again while checking stocks on the Dividend Channel which is where I heard about MMLP in the first place. It was around October 24th and I checked Analyst Reviews on Fidelity and it was listed a STRONG BUY! So I leaped in again!
I picked up 10,000 more shares at 3.99 today. That puts me at 50,000 shares, with an average price of $6.60. Will probably sell today’s 10,000 at $5, just to lock in a short term profit to offset some of the unrealized losses that I may end up having to realize at some point.
I expect to buy each time it hits $3.99, absent some new disclosures that change that.
I think for a lot of MMLP investors that road out the carnage and did not want to take the loss, based on your individual price/unit, like myself, it made more sense to take the 3.5% yield with the new distribution. Kinda like holding a 30 year treasury with maybe some upside potential in the future.
This stock is high risk - but looks like we are near a turn-around. Did what they promised and sold assets that where loosing money. Also looks like business has turned this quater - and there is a good chance they can actually start to make money again this quater. At the same time they deliverage. So - even it is true the high divi signal risc - I took the risc and jumped onboard now to take part of the ride up - together with my dividend and more than 14% - after the reduction....
Our territories have significant overlap with Plains All American (PAA). PAA halved their distribution in 2020 and sold some assets, though they really didn't need to. Sitting on a ton of free cash flow. Makes me wonder if we might just be an acquisition target???
Great day. Its not hard to expect strong storage revenues. As an oil/gas operator, I could see their oil hauling profits do well. Our gatherer has been using frack tanks to store oil and sell the physical into the forward months. Its a great physical arbitrage and Im seeing it work. MMLP could do well in this environment, if they are aggressive.
Which way the Texas RR Commission rule?
insiders sold stock week before collapse
From the partners today regarding the pipeline sale and distribution coverage: "We believe that with the benefits from this sale, the Partnership is now in a position to take advantage of viable growth opportunities including potential drop-downs from our general partner which could drive our distribution coverage ratio to a target of greater than 1.2 times."
Doesn't seem like the distribution is in jeopardy.
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