Martin Midstream Partners (NASDAQ:MMLP) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.91 and traded as high as $3.01. Martin Midstream Partners shares last traded at $2.92, with a volume of 24,675 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Martin Midstream Partners in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Martin Midstream Partners has an average rating of “Sell”.

Martin Midstream Partners Stock Up 7.7%

The company has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $2.91. The firm has a market cap of $114.06 million, a P/E ratio of -5.62 and a beta of 0.58.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, October 15th. The pipeline company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.19). The firm had revenue of $168.72 million during the quarter, compared to analysts’ expectations of $192.59 million. As a group, research analysts forecast that Martin Midstream Partners L.P. will post 0.15 EPS for the current year.

Martin Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a dividend of $0.005 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.02 annualized dividend and a yield of 0.7%. Martin Midstream Partners’s payout ratio is currently -3.85%.

Institutional Trading of Martin Midstream Partners

Several institutional investors and hedge funds have recently modified their holdings of MMLP. Meriwether Wealth & Planning LLC bought a new position in Martin Midstream Partners in the 2nd quarter worth $30,000. Ipsen Advisor Group LLC purchased a new position in shares of Martin Midstream Partners in the second quarter valued at about $34,000. Citadel Advisors LLC bought a new position in shares of Martin Midstream Partners in the third quarter worth about $41,000. Artisan Partners Limited Partnership purchased a new stake in shares of Martin Midstream Partners during the second quarter worth about $99,000. Finally, Susquehanna International Group LLP grew its position in shares of Martin Midstream Partners by 298.9% during the third 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 in the last quarter. 34.90% of the stock is currently owned by institutional investors.

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.