Martin Midstream Partners (NASDAQ:MMLP) Stock Passes Above Two Hundred Day Moving Average of $2.58

Martin Midstream Partners L.P. (NASDAQ:MMLPGet Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.58 and traded as high as $3.30. Martin Midstream Partners shares last traded at $3.25, with a volume of 74,343 shares.

Analysts Set New Price Targets

Separately, assumed coverage on shares of Martin Midstream Partners in a report on Wednesday, April 17th. They issued a “strong-buy” rating on the stock.

Check Out Our Latest Stock Report on Martin Midstream Partners

Martin Midstream Partners Stock Performance

The stock has a market capitalization of $126.75 million, a P/E ratio of 36.12 and a beta of 2.18. The business has a fifty day simple moving average of $2.84 and a 200-day simple moving average of $2.58.

Martin Midstream Partners (NASDAQ:MMLPGet Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $180.83 million during the quarter, compared to the consensus estimate of $198.80 million. Martin Midstream Partners had a net margin of 0.52% and a negative return on equity of 5.98%. On average, sell-side analysts anticipate that Martin Midstream Partners L.P. will post 0.14 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were paid a $0.005 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.62%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Trading of Martin Midstream Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in shares of Martin Midstream Partners by 33.6% during the fourth quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock valued at $72,000 after buying an additional 7,500 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Martin Midstream Partners during the first quarter valued at approximately $55,000. Acadian Asset Management LLC bought a new stake in Martin Midstream Partners during the first quarter worth $50,000. Finally, American National Bank purchased a new stake in Martin Midstream Partners in the 1st quarter valued at $35,000. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

(Get Free Report)

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.

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