Martin Midstream Partners (NASDAQ:MMLP) Stock Price Passes Above 200-Day Moving Average of $3.22

Martin Midstream Partners L.P. (NASDAQ:MMLP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.22 and traded as high as $3.67. Martin Midstream Partners shares last traded at $3.67, with a volume of 31,877 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Martin Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st.

Martin Midstream Partners Price Performance

The firm has a market capitalization of $143.13 million, a P/E ratio of 40.78 and a beta of 2.13. The company’s 50 day moving average price is $3.64 and its 200 day moving average price is $3.22.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Martin Midstream Partners had a negative return on equity of 10.46% and a net margin of 0.90%. The company had revenue of $184.53 million during the quarter, compared to analysts’ expectations of $193.91 million. During the same period last year, the firm earned $0.03 EPS. On average, research analysts anticipate that Martin Midstream Partners L.P. will post 0.13 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were paid a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, August 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is 22.22%.

Institutional Trading of Martin Midstream Partners

Institutional investors have recently bought and sold shares of the business. American National Bank acquired a new position in shares of Martin Midstream Partners during the 1st quarter worth about $35,000. Acadian Asset Management LLC bought a new position in Martin Midstream Partners during the 1st quarter worth approximately $50,000. Finally, Virtu Financial LLC acquired a new position in Martin Midstream Partners during the first quarter valued at approximately $55,000. Institutional investors and hedge funds 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.