Martin Midstream Partners (NASDAQ:MMLP) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Martin Midstream Partners L.P. (NASDAQ:MMLP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.11 and traded as high as $3.16. Martin Midstream Partners shares last traded at $3.06, with a volume of 8,906 shares.

Analyst Ratings Changes

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

Martin Midstream Partners Price Performance

The stock has a market capitalization of $119.52 million, a price-to-earnings ratio of -7.85 and a beta of 0.67. The business has a fifty day moving average of $3.18 and a 200 day moving average of $3.11.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The pipeline company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.14). The company had revenue of $180.68 million during the quarter, compared to analysts' expectations of $199.39 million. On average, equities research analysts expect 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 issued a $0.005 dividend. The ex-dividend date was Thursday, August 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.7%. Martin Midstream Partners's dividend payout ratio is currently -5.13%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MMLP. Meriwether Wealth & Planning LLC acquired a new position in Martin Midstream Partners in the second quarter valued at approximately $30,000. Ipsen Advisor Group LLC acquired a new position in Martin Midstream Partners during the second quarter worth $34,000. Squarepoint Ops LLC acquired a new position in Martin Midstream Partners during the fourth quarter worth $36,000. Pettinga Financial Advisors LLC acquired a new position in Martin Midstream Partners during the first quarter worth $43,000. Finally, US Bancorp DE lifted 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 worth $50,000 after purchasing an additional 5,000 shares in the last quarter. 34.90% of the stock is currently owned by institutional investors and hedge funds.

About Martin Midstream Partners

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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