Martin Midstream Partners (NASDAQ:MMLP) Stock Passes Above 200-Day Moving Average of $3.17

Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.17 and traded as high as $3.63. Martin Midstream Partners shares last traded at $3.63, with a volume of 46,618 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Martin Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st.

Martin Midstream Partners Price Performance

The stock has a market capitalization of $141.57 million, a PE ratio of 40.33 and a beta of 2.13. The stock’s fifty day moving average is $3.64 and its 200-day moving average is $3.17.

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

Martin Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, August 7th. Martin Midstream Partners’s payout ratio is 22.22%.

Institutional Investors Weigh In On Martin Midstream Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Martin Midstream Partners during the first quarter valued at $55,000. Acadian Asset Management LLC purchased a new position in Martin Midstream Partners in the 1st quarter valued at about $50,000. American National Bank acquired a new stake in Martin Midstream Partners in the 1st quarter worth about $35,000. Finally, Victory Capital Management Inc. increased its stake in Martin Midstream Partners by 33.6% during the 4th quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock worth $72,000 after buying an additional 7,500 shares in the last quarter. 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.