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)'s stock price 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 traded.

Analysts Set New Price Targets

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

Martin Midstream Partners Price Performance

The company has a market cap of $133.37 million, a P/E ratio of -8.76 and a beta of 0.55. The company has a 50 day moving average of $3.08 and a 200-day moving average of $3.19.

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

Several hedge funds have recently added to or reduced their stakes in MMLP. Nomura Holdings Inc. lifted its stake in Martin Midstream Partners by 265.2% during the first quarter. Nomura Holdings Inc. now owns 3,417,328 shares of the pipeline company's stock worth $12,302,000 after purchasing an additional 2,481,497 shares during the last quarter. Nexpoint Asset Management L.P. bought a new stake in Martin Midstream Partners during the fourth quarter worth about $1,636,000. Bank of America Corp DE lifted its stake in Martin Midstream Partners by 216.0% during the second quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company's stock worth $1,714,000 after purchasing an additional 397,163 shares during the last quarter. Tiptree Advisors LLC bought a new stake in Martin Midstream Partners during the fourth quarter worth about $524,000. Finally, Toronto Dominion Bank bought a new stake in Martin Midstream Partners during the fourth quarter worth about $233,000. 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.