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

Martin Midstream Partners L.P. (NASDAQ:MMLP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.75 and traded as high as $3.75. Martin Midstream Partners shares last traded at $3.66, with a volume of 88,888 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Martin Midstream Partners in a report on Friday. They set a “buy” rating for the company.

Martin Midstream Partners Trading Up 0.8 %

The company has a fifty day moving average price of $3.59 and a 200-day moving average price of $3.75. The firm has a market capitalization of $143.87 million, a price-to-earnings ratio of -28.27 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. As a group, sell-side analysts predict that Martin Midstream Partners L.P. will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, February 7th. Martin Midstream Partners’s dividend payout ratio is currently -15.38%.

Institutional Investors Weigh In On Martin Midstream Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Martin Midstream Partners by 24.9% during the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after acquiring an additional 5,966 shares during the last quarter. US Bancorp DE acquired a new position in shares of Martin Midstream Partners during the fourth quarter worth approximately $32,000. Squarepoint Ops LLC bought a new stake in shares of Martin Midstream Partners during the fourth quarter valued at approximately $36,000. CSS LLC IL acquired a new stake in shares of Martin Midstream Partners in the fourth quarter valued at approximately $100,000. Finally, De Lisle Partners LLP raised its position in Martin Midstream Partners by 13.0% in the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 30,000 shares during the last 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.