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

Martin Midstream Partners L.P. (NASDAQ:MMLP) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

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

Martin Midstream Partners Stock Performance

The business’s 50 day moving average is $3.64 and its 200-day moving average is $3.22. The firm has a market capitalization of $143.13 million, a price-to-earnings ratio of 40.78 and a beta of 2.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $184.53 million for the quarter, compared to the consensus estimate 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 business earned $0.03 earnings per share. Equities research analysts forecast that Martin Midstream Partners L.P. will post 0.13 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

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

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Martin Midstream Partners in the first quarter valued at $55,000. Acadian Asset Management LLC acquired a new stake in shares of Martin Midstream Partners during the 1st quarter worth about $50,000. Finally, American National Bank bought a new position in Martin Midstream Partners during the 1st quarter valued at about $35,000. 34.90% of the stock is owned by institutional investors.

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.