Martin Midstream Partners (NASDAQ:MMLP) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.48 and traded as high as $3.98. Martin Midstream Partners shares last traded at $3.97, with a volume of 32,990 shares traded.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Martin Midstream Partners in a report on Friday. They set a “buy” rating on the stock.

Martin Midstream Partners Price Performance

The firm has a market capitalization of $154.83 million, a price-to-earnings ratio of 39.70 and a beta of 2.10. The business’s fifty day simple moving average is $3.79 and its 200 day simple moving average is $3.49.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. During the same period in the previous year, the firm earned ($0.03) earnings per share. Equities research analysts expect that Martin Midstream Partners L.P. will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Thursday, November 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is 20.00%.

Institutional Investors Weigh In On Martin Midstream Partners

A hedge fund recently bought a new stake in Martin Midstream Partners stock. Acadian Asset Management LLC acquired a new position in Martin Midstream Partners L.P. (NASDAQ:MMLP) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,959 shares of the pipeline company’s stock, valued at approximately $50,000. Acadian Asset Management LLC owned about 0.05% of Martin Midstream Partners as of its most recent SEC filing. Hedge funds and other institutional investors 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.