Martin Midstream Partners (NASDAQ:MMLP) Stock Price Passes Above 200-Day Moving Average of $2.63

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.63 and traded as high as $3.32. Martin Midstream Partners shares last traded at $3.30, with a volume of 148,715 shares.

Wall Street Analysts Forecast Growth

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

Martin Midstream Partners Stock Down 0.3 %

The firm has a fifty day moving average of $2.98 and a 200-day moving average of $2.63. The stock has a market capitalization of $128.70 million, a price-to-earnings ratio of 36.67 and a beta of 2.18.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Martin Midstream Partners had a negative return on equity of 5.98% and a net margin of 0.52%. The firm had revenue of $180.83 million during the quarter, compared to analysts’ expectations of $198.80 million. As a group, research analysts forecast that Martin Midstream Partners L.P. will post 0.14 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were issued a $0.005 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.61%. Martin Midstream Partners’s dividend payout ratio (DPR) is 22.22%.

Hedge Funds Weigh In On Martin Midstream Partners

A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in shares of Martin Midstream Partners by 33.6% in the fourth quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock worth $72,000 after acquiring an additional 7,500 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Martin Midstream Partners in the first quarter worth $55,000. Acadian Asset Management LLC acquired a new position in shares of Martin Midstream Partners in the first quarter worth $50,000. Finally, American National Bank purchased a new stake in shares of Martin Midstream Partners in the first quarter valued at $35,000. 34.90% of the stock is owned by institutional investors and hedge funds.

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.