Martin Midstream Partners (NASDAQ:MMLP) Stock Passes Above 200-Day Moving Average – Here’s Why

Martin Midstream Partners L.P. (NASDAQ:MMLP)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Martin Midstream Partners in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $3.00.

Martin Midstream Partners Stock Down 3.9%

The business has a 50-day simple moving average of $2.42 and a two-hundred day simple moving average of $2.61. The stock has a market capitalization of $95.84 million, a P/E ratio of -6.45 and a beta of 0.51.

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

Martin Midstream Partners Dividend Announcement

The company also recently announced 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 is Friday, August 7th. Martin Midstream Partners’s payout ratio is presently -5.26%.

Institutional Trading of Martin Midstream Partners

Several hedge funds and other institutional investors have recently modified their holdings of MMLP. Commerce Bank acquired a new position in Martin Midstream Partners during the fourth quarter valued at approximately $28,000. Citadel Advisors LLC acquired a new stake in Martin Midstream Partners during the 3rd quarter valued at approximately $41,000. Jane Street Group LLC increased its position in 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 purchasing an additional 14,010 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in Martin Midstream Partners during the 1st quarter worth approximately $121,000. Finally, Susquehanna International Group LLP lifted its position in shares of 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 worth $135,000 after purchasing an additional 33,064 shares during the period. Institutional investors 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.