Martin Midstream Partners (NASDAQ:MMLP) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.48 and traded as high as $3.98. Martin Midstream Partners shares last traded at $3.97, with a volume of 32,990 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a research note on Friday. They set a “buy” rating for the company.

Martin Midstream Partners Stock Up 0.4 %

The stock has a market capitalization of $154.83 million, a P/E ratio of 39.70 and a beta of 2.10. The stock has a 50 day simple moving average of $3.79 and a two-hundred day simple moving average of $3.48.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. The firm had revenue of $170.93 million during the quarter, compared to the consensus estimate of $176.43 million. During the same period in the prior year, the business posted ($0.03) earnings per share. Sell-side analysts predict that Martin Midstream Partners L.P. will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend yield of 0.50%. Martin Midstream Partners’s payout ratio is 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

An institutional investor recently bought a new position in Martin Midstream Partners stock. Virtu Financial LLC bought a new position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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 quarter. 34.90% of the stock is owned by institutional investors and hedge funds.

Martin Midstream Partners Company Profile

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.