Martin Midstream Partners (NASDAQ:MMLP) Stock Price Passes Above 200 Day Moving Average of $3.12

Martin Midstream Partners L.P. (NASDAQ:MMLP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.12 and traded as high as $3.50. Martin Midstream Partners shares last traded at $3.50, with a volume of 27,777 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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 stock has a market capitalization of $137.28 million, a price-to-earnings ratio of 39.12 and a beta of 2.13. The business’s fifty day moving average price is $3.63 and its 200-day moving average price is $3.13.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $184.53 million for the quarter, compared to analyst estimates of $193.91 million. Martin Midstream Partners had a net margin of 0.90% and a negative return on equity of 10.46%. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities research analysts predict that Martin Midstream Partners L.P. will post 0.13 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.02 annualized dividend and a yield of 0.57%. Martin Midstream Partners’s payout ratio is currently 22.22%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MMLP. Victory Capital Management Inc. boosted its holdings in shares of 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 valued at $72,000 after acquiring an additional 7,500 shares during the last quarter. American National Bank bought a new stake in Martin Midstream Partners during the 1st quarter worth approximately $35,000. Acadian Asset Management LLC bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $50,000. Finally, Virtu Financial LLC bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $55,000. 34.90% of the stock is currently owned by institutional investors.

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.