Martin Midstream Partners (NASDAQ:MMLP) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Martin Midstream Partners L.P. (NASDAQ:MMLP)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.76 and traded as high as $2.76. Martin Midstream Partners shares last traded at $2.74, with a volume of 12,029 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MMLP. Stifel Nicolaus cut their price objective on Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 12th. Weiss Ratings restated a “sell (d)” rating on shares of Martin Midstream Partners in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $3.00.

Martin Midstream Partners Price Performance

The stock has a 50-day moving average price of $2.77 and a two-hundred day moving average price of $2.76. The stock has a market cap of $104.68 million, a PE ratio of -7.24 and a beta of 0.57.

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

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a $0.005 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently -5.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MMLP. Nomura Holdings Inc. lifted its holdings in shares of Martin Midstream Partners by 12.3% in the 2nd quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company’s stock valued at $11,320,000 after acquiring an additional 420,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Martin Midstream Partners by 216.0% in the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after acquiring an additional 397,163 shares during the last quarter. Lee Financial Co bought a new position in shares of Martin Midstream Partners in the 3rd quarter valued at about $830,000. Artisan Partners Limited Partnership lifted its holdings in shares of Martin Midstream Partners by 221.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 107,339 shares of the pipeline company’s stock valued at $328,000 after acquiring an additional 73,926 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its holdings 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 valued at $135,000 after acquiring an additional 33,064 shares during the last quarter. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

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.