Martin Midstream Partners (NASDAQ:MMLP) Stock Price Passes Above Two Hundred 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 Tuesday . The stock has a two hundred day moving average of $2.73 and traded as high as $2.79. Martin Midstream Partners shares last traded at $2.86, with a volume of 2,652 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MMLP shares. Stifel Nicolaus dropped their target price on Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Martin Midstream Partners in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $3.00.

Martin Midstream Partners Trading Down 8.6%

The firm has a market cap of $99.99 million, a price-to-earnings ratio of -5.02 and a beta of 0.57. The stock has a fifty day moving average price of $2.76 and a 200 day moving average price of $2.73.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported ($0.17) EPS for the quarter. The firm had revenue of $187.67 million during the quarter.

Martin Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.8%. Martin Midstream Partners’s dividend payout ratio is currently -5.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMLP. Commerce Bank acquired a new position in shares of Martin Midstream Partners during the 4th quarter valued at about $28,000. Citadel Advisors LLC acquired a new position in shares of Martin Midstream Partners during the 3rd quarter valued at about $41,000. Jane Street Group LLC increased its holdings in shares of Martin Midstream Partners by 139.3% during the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after acquiring an additional 14,010 shares during the last quarter. Susquehanna International Group LLP grew its holdings in Martin Midstream Partners by 298.9% in the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after buying an additional 33,064 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Martin Midstream Partners by 7.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock valued at $300,000 after buying an additional 7,596 shares during the last quarter. Institutional investors and hedge funds own 34.90% of the company’s stock.

About Martin Midstream Partners

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.