Martin Midstream Partners (NASDAQ:MMLP) Share Price Passes Above 200 Day Moving Average of $2.47

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.47 and traded as high as $2.72. Martin Midstream Partners shares last traded at $2.71, with a volume of 35,311 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Martin Midstream Partners in a research report on Wednesday, April 17th. They issued a “strong-buy” rating for the company.

Martin Midstream Partners Trading Up 0.7 %

The firm has a market cap of $105.69 million, a P/E ratio of 30.11 and a beta of 2.12. The business’s fifty day moving average price is $2.58 and its two-hundred day moving average price is $2.47.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $181.10 million for the quarter, compared to the consensus estimate of $177.85 million. Martin Midstream Partners had a net margin of 0.52% and a negative return on equity of 5.98%. Research analysts predict that Martin Midstream Partners L.P. will post 0.14 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a $0.005 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.02 annualized dividend and a yield of 0.74%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MMLP. Raymond James & Associates grew its position in Martin Midstream Partners by 3.3% in the 3rd quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock worth $1,687,000 after purchasing an additional 19,194 shares during the last quarter. American National Bank acquired a new stake in Martin Midstream Partners in the 1st quarter worth $35,000. Finally, Victory Capital Management Inc. grew its position in Martin Midstream Partners by 33.6% in the 4th quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock worth $72,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

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.