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

Key Points

• Martin Midstream Partners' stock has recently surpassed its 200-day moving average, indicating a potential upward trend in its stock performance.
• The company reported a loss of ($0.06) earnings per share for the last quarter, falling short of the consensus estimate of $0.08.
• Martin Midstream Partners announced a quarterly dividend of $0.005 per share, reflecting a 0.6% yield for investors.

Martin Midstream Partners L.P. (NASDAQ:MMLP - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.19 and traded as high as $3.33. Martin Midstream Partners shares last traded at $3.46, with a volume of 1,052 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Martin Midstream Partners to a "hold" rating in a research report on Friday, June 6th.

Martin Midstream Partners Stock Up 1.3%

The company has a market capitalization of $134.95 million, a PE ratio of -8.86 and a beta of 0.55. The company has a 50-day moving average price of $3.06 and a two-hundred day moving average price of $3.19.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.14). The firm had revenue of $180.68 million during the quarter, compared to the consensus estimate of $199.39 million. As a group, equities analysts anticipate that Martin Midstream Partners L.P. will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid a dividend of $0.005 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.02 annualized dividend and a yield of 0.6%. Martin Midstream Partners's dividend payout ratio (DPR) is currently -5.13%.

Institutional Investors Weigh In On Martin Midstream Partners

Large investors have recently added to or reduced their stakes in the business. Meriwether Wealth & Planning LLC bought a new stake in Martin Midstream Partners during the second quarter valued at $30,000. Ipsen Advisor Group LLC bought a new stake in Martin Midstream Partners during the second quarter valued at $34,000. Squarepoint Ops LLC bought a new stake in Martin Midstream Partners during the fourth quarter valued at $36,000. Pettinga Financial Advisors LLC bought a new stake in Martin Midstream Partners during the first quarter valued at $43,000. Finally, US Bancorp DE boosted its stake in Martin Midstream Partners by 55.6% during the first quarter. US Bancorp DE now owns 14,000 shares of the pipeline company's stock valued at $50,000 after buying an additional 5,000 shares during the period. Institutional investors own 34.90% of the company's stock.

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.

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