Martin Midstream Partners (NASDAQ:MMLP) Shares Cross Above 200 Day Moving Average – What’s Next?

Martin Midstream Partners L.P. (NASDAQ:MMLP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.88 and traded as high as $3.00. Martin Midstream Partners shares last traded at $2.81, with a volume of 11,258 shares.

Wall Street Analyst Weigh In

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

Martin Midstream Partners Price Performance

The business’s fifty day moving average price is $2.77 and its 200-day moving average price is $2.88. The stock has a market capitalization of $109.76 million, a price-to-earnings ratio of -7.59 and a beta of 0.62.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, February 18th. The pipeline company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.13). The company had revenue of $174.20 million for the quarter, compared to analyst estimates of $194.47 million. Equities research analysts predict that Martin Midstream Partners L.P. will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

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

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commerce Bank purchased a new position in Martin Midstream Partners during the 4th quarter worth $28,000. Ipsen Advisor Group LLC purchased a new stake 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 during the third quarter valued at about $41,000. Jane Street Group LLC boosted its holdings in 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 during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new position in Martin Midstream Partners during the second quarter worth about $99,000. 34.90% of the stock is owned by hedge funds and other 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.