Martin Midstream Partners (NASDAQ:MMLP) Stock Price Crosses Above Two Hundred Day Moving Average of $2.94

Martin Midstream Partners L.P. (NASDAQ:MMLP)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.94 and traded as high as $3.75. Martin Midstream Partners shares last traded at $3.70, with a volume of 113,856 shares changing hands.

Analysts Set New Price Targets

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 company has a market capitalization of $139.62 million, a PE ratio of 39.78 and a beta of 2.21. The firm has a fifty day simple moving average of $3.50 and a 200-day simple moving average of $2.95.

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

Martin Midstream Partners Dividend Announcement

The company also recently disclosed 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. This represents a $0.02 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, August 7th. Martin Midstream Partners’s payout ratio is currently 22.22%.

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors have recently made changes to their positions in the company. American National Bank bought a new stake in Martin Midstream Partners during the first quarter valued at $35,000. Acadian Asset Management LLC acquired a new stake in Martin Midstream Partners during the first quarter worth about $50,000. Virtu Financial LLC bought a new position in Martin Midstream Partners in the first quarter worth about $55,000. Finally, Victory Capital Management Inc. boosted its stake in 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 valued at $72,000 after acquiring an additional 7,500 shares during the period. 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.