Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.61 and traded as high as $2.65. Martin Midstream Partners shares last traded at $2.45, with a volume of 48,492 shares changing hands.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Martin Midstream Partners in a research note on Friday, May 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $3.00.
Check Out Our Latest Stock Analysis on Martin Midstream Partners
Martin Midstream Partners Price Performance
The company has a market capitalization of $95.84 million, a PE ratio of -6.45 and a beta of 0.51. The company's 50 day simple moving average is $2.42 and its 200 day simple moving average is $2.61.
Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The pipeline company reported $0.07 earnings per share for the quarter. The company had revenue of $213.60 million for the quarter.
Martin Midstream Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.8%. Martin Midstream Partners's dividend payout ratio (DPR) is presently -5.26%.
Hedge Funds Weigh In On Martin Midstream Partners
Several institutional investors have recently bought and sold shares of MMLP. Bank of America Corp DE raised its stake in shares of Martin Midstream Partners by 0.8% during the 1st quarter. Bank of America Corp DE now owns 547,270 shares of the pipeline company's stock worth $1,510,000 after buying an additional 4,547 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Martin Midstream Partners in the first quarter valued at approximately $121,000. Artisan Partners Limited Partnership increased its position in shares of Martin Midstream Partners by 7.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company's stock worth $300,000 after acquiring an additional 7,596 shares during the last quarter. Commerce Bank bought a new stake in shares of Martin Midstream Partners in the 4th quarter worth about $28,000. Finally, Jane Street Group LLC lifted its position in shares of Martin Midstream Partners by 139.3% in the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company's stock worth $63,000 after buying an additional 14,010 shares during the last quarter. 34.90% of the stock is owned by institutional investors and hedge funds.
Martin Midstream Partners Company Profile
(
Get Free Report)
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.
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