Martin Midstream Partners (NASDAQ:MMLP) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.42 and traded as high as $4.00. Martin Midstream Partners shares last traded at $3.97, with a volume of 46,307 shares.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Martin Midstream Partners in a report on Thursday. They issued a “buy” rating on the stock.

Martin Midstream Partners Trading Up 0.3 %

The stock’s 50 day moving average is $3.75 and its 200 day moving average is $3.43. The stock has a market capitalization of $155.22 million, a price-to-earnings ratio of 39.80 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last announced 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 company had revenue of $170.93 million for the quarter, compared to analyst estimates 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 quarter last year, the company posted ($0.03) EPS. On average, sell-side analysts anticipate that Martin Midstream Partners L.P. will post 0.16 EPS for the current year.

Martin Midstream Partners Dividend Announcement

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

Institutional Trading of Martin Midstream Partners

An institutional investor recently bought a new position in Martin Midstream Partners stock. Virtu Financial LLC acquired a new position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 21,342 shares of the pipeline company’s stock, valued at approximately $55,000. Virtu Financial LLC owned 0.05% of Martin Midstream Partners at the end of the most recent reporting period. 34.90% of the stock is owned by hedge funds and other institutional investors.

About Martin Midstream Partners

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.