Martin Midstream Partners (NASDAQ:MMLP) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

by · The Markets Daily

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.86 and traded as high as $2.95. Martin Midstream Partners shares last traded at $2.84, with a volume of 6,351 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Martin Midstream Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Check Out Our Latest Research Report on Martin Midstream Partners

Martin Midstream Partners Stock Performance

The company has a market cap of $110.93 million, a PE ratio of -7.68 and a beta of 0.56. The company’s 50-day simple moving average is $2.82 and its 200 day simple moving average is $2.86.

Martin Midstream Partners (NASDAQ:MMLP – Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). The business had revenue of $174.20 million during the quarter, compared to the consensus estimate of $194.47 million. Analysts forecast that Martin Midstream Partners L.P. will post 0.15 EPS for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.005 per share. The ex-dividend date was Friday, February 6th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.7%. Martin Midstream Partners’s payout ratio is presently -5.41%.

Hedge Funds Weigh In On Martin Midstream Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership boosted its holdings in shares of 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 in the last quarter. Commerce Bank acquired a new position in Martin Midstream Partners in the fourth quarter valued at $28,000. Ipsen Advisor Group LLC acquired a new position in Martin Midstream Partners in the second quarter valued at $34,000. Citadel Advisors LLC purchased a new position in shares of Martin Midstream Partners during the third quarter worth about $41,000. Finally, 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 purchasing an additional 14,010 shares in the last quarter. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

About Martin Midstream Partners

(Get Free Report)

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.

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