|Bid||7.50 x 800|
|Ask||0.00 x 800|
|Day's Range||7.55 - 7.76|
|52 Week Range||6.86 - 15.40|
|Beta (3Y Monthly)||0.20|
|PE Ratio (TTM)||10.98|
|Forward Dividend & Yield||1.75 (16.06%)|
|1y Target Est||N/A|
Moody's Investors Service (Moody's) downgraded Martin Midstream Partners L.P.'s (Martin Midstream) Corporate Family Rating (CFR) to B3 from B2, its Probability of Default Rating (PDR) to B3-PD from B2-PD, senior unsecured notes rating to Caa2 from Caa1, and Speculative Grade Liquidity (SGL) rating to SGL-4 from SGL-3. The SGL-4 liquidity rating reflects weak liquidity with a heavily used revolver expiring in March 2020, and the senior notes shortly thereafter in February 2021.
Shares of Martin Midstream Partners L.P. plummeted 17% toward a record low, after the provider of natural-gas and other energy-related services cut its dividend in half, after part of its plan to strengthen its balance sheet, and reported a surprise first-quarter loss. The company's new quarterly distribution was reduced to 25 cents a share from 50 cents. Based on Wednesday's stock closing price of $9.84, the new annual dividend rate would lower the dividend yield to 10.16% from 20.33%. In comparison, the SPDR Energy Select Sector ETF's dividend yield is 3.07% and the implied yield for the S&P 500 is 1.96%, according to FactSet. Among other strategic actions the company is taking, the company said it is in "active negotiation" over the sale of certain non-core assets and businesses. Separately, the company said it swung to a net loss of $3.7 million, or 9 cents a share, from a profit of $13.5 million, or 29 cents a share, a year ago, compared with the FactSet consensus of a profit of 22 cents a share. Revenue fell to $251 million from $307 million, missing the FactSet consensus of $299 million. the stock has lost 4.3% year to date through Wednesday, while the S&P 500 has gained 17%.
The dividend yield of Martin Midstream Partners LP stocks is 16.07%. Warning! GuruFocus has detected 1 Warning Sign with MMLP. For the last quarter Martin Midstream Partners LP reported a revenue of $252.8 million, compared with the revenue of $305.7 million during the same period a year ago.
Lone Star Ports LLC will lead development and operation of a Carlyle Group-backed crude export terminal in Corpus Christi, Texas, that can fully load supertankers, according to a statement from the project leaders on Friday. Carlyle Group and the Port of Corpus Christi Authority in October jointly proposed building a $1 billion crude export terminal on an island controlled by the authority. Thursday's announcement adds a project manager to oversee development and construction of the facility, one of three competing to be the first to begin operations in the area.
According to the GuruFocus All-In-One Screener, the following stocks have high dividend yields but performed poorly over the last 12 months. Haverty Furniture Companies Inc.'s (HVT) dividend yield is 3.20% with a payout ratio of 66%. Over the last 52 weeks, the stock price has fallen 15.3%.
If you’re interested in Martin Midstream Partners LP (NASDAQ:MMLP), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stockRead More...
American Midstream Partners (AMID), a midstream MLP involved in natural gas gathering, processing, and compression, was the lowest-performing MLP in the week ended July 27. AMID stock plunged 41.1% last week. It saw a sharp correction following its announcement of a capital allocation strategy, which includes the sale of non-core assets and a distribution cut.