Martin Midstream Partners (NASDAQ:MMLP) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Martin Midstream Partners L.P. (NASDAQ:MMLP) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.75 and traded as high as $3.75. Martin Midstream Partners shares last traded at $3.66, with a volume of 88,888 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Martin Midstream Partners in a research report on Friday. They set a “buy” rating for the company.

Martin Midstream Partners Stock Performance

The business’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $3.75. The company has a market capitalization of $143.87 million, a price-to-earnings ratio of -28.27 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. On average, sell-side analysts expect that Martin Midstream Partners L.P. will post 0.15 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, February 7th. Martin Midstream Partners’s payout ratio is currently -15.38%.

Institutional Investors Weigh In On Martin Midstream Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in Martin Midstream Partners by 24.9% during the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 5,966 shares during the last quarter. US Bancorp DE purchased a new stake in Martin Midstream Partners during the fourth quarter valued at about $32,000. Squarepoint Ops LLC purchased a new stake in Martin Midstream Partners during the fourth quarter valued at about $36,000. CSS LLC IL acquired a new position in shares of Martin Midstream Partners in the fourth quarter worth about $100,000. Finally, De Lisle Partners LLP increased its position in shares of Martin Midstream Partners by 13.0% in the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after acquiring an additional 30,000 shares in the last quarter. 34.90% of the stock is owned by institutional investors and hedge funds.

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.