Martin Midstream Partners (NASDAQ:MMLP) Shares Cross Above 200-Day Moving Average of $2.52

Martin Midstream Partners L.P. (NASDAQ:MMLPGet Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.52 and traded as high as $2.70. Martin Midstream Partners shares last traded at $2.61, with a volume of 52,329 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Martin Midstream Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 15th.

Read Our Latest Stock Report on Martin Midstream Partners

Martin Midstream Partners Stock Performance

The stock has a market cap of $101.79 million, a P/E ratio of -21.75 and a beta of 2.11. The stock’s fifty day simple moving average is $2.38 and its 200-day simple moving average is $2.52.

Martin Midstream Partners (NASDAQ:MMLPGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $181.10 million during the quarter, compared to the consensus estimate of $177.85 million. As a group, equities research analysts forecast that Martin Midstream Partners L.P. will post 0.11 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Tuesday, February 6th. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -16.67%.

Institutional Trading of Martin Midstream Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in shares of Martin Midstream Partners during the 3rd quarter worth approximately $39,000. Jane Street Group LLC bought a new stake in shares of Martin Midstream Partners during the 4th quarter worth approximately $43,000. HighTower Advisors LLC lifted its holdings in shares of Martin Midstream Partners by 59.8% during the 4th quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 6,016 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Martin Midstream Partners during the 4th quarter worth approximately $67,000. Finally, Acadian Asset Management LLC acquired a new position in Martin Midstream Partners during the 1st quarter worth approximately $140,000. Institutional investors own 60.70% of the company’s stock.

About Martin Midstream Partners

(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 Natural Gas Liquids.

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