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

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.75 and traded as high as $3.75. Martin Midstream Partners shares last traded at $3.65, with a volume of 76,624 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Martin Midstream Partners in a report on Saturday. They set a “buy” rating on the stock.

Martin Midstream Partners Trading Up 0.3 %

The business’s 50-day simple moving average is $3.56 and its 200 day simple moving average is $3.75. The company has a market capitalization of $142.55 million, a P/E ratio of -28.07 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a dividend of $0.005 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.02 annualized dividend and a yield of 0.55%. Martin Midstream Partners’s dividend payout ratio is currently -15.38%.

Institutional Investors Weigh In On Martin Midstream Partners

Several hedge funds and other institutional investors have recently bought and sold shares of MMLP. US Bancorp DE bought a new position in shares of Martin Midstream Partners during the 4th quarter valued at about $32,000. Squarepoint Ops LLC acquired a new stake in Martin Midstream Partners during the fourth quarter valued at approximately $36,000. CSS LLC IL bought a new stake in Martin Midstream Partners during the fourth quarter worth approximately $100,000. Geode Capital Management LLC grew its position in Martin Midstream Partners by 24.9% in the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after buying an additional 5,966 shares during the last quarter. Finally, AGP Franklin LLC bought a new position in shares of Martin Midstream Partners in the fourth quarter valued at $111,000. 34.90% of the stock is currently owned by institutional investors.

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.