Martin Midstream Partners (NASDAQ:MMLP) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Martin Midstream Partners L.P. (NASDAQ:MMLP)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.61 and traded as high as $2.65. Martin Midstream Partners shares last traded at $2.45, with a volume of 48,492 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Martin Midstream Partners in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $3.00.

Martin Midstream Partners Trading Down 3.9%

The firm has a 50 day moving average price of $2.42 and a two-hundred day moving average price of $2.61. The firm has a market capitalization of $95.84 million, a price-to-earnings ratio of -6.45 and a beta of 0.51.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, July 22nd. The pipeline company reported $0.07 EPS for the quarter. The business had revenue of $213.60 million during the quarter.

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -5.26%.

Hedge Funds Weigh In On Martin Midstream Partners

Institutional investors have recently added to or reduced their stakes in the company. Commerce Bank purchased a new position in Martin Midstream Partners in the 4th quarter valued at about $28,000. Citadel Advisors LLC purchased a new stake in shares of Martin Midstream Partners during the third quarter worth about $41,000. Jane Street Group LLC increased its position in shares of Martin Midstream Partners by 139.3% during the fourth quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock worth $63,000 after acquiring an additional 14,010 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Martin Midstream Partners in the first quarter worth about $121,000. Finally, Susquehanna International Group LLP boosted its holdings in Martin Midstream Partners by 298.9% in the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 33,064 shares during the last quarter. Institutional investors and hedge funds own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

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.