Martin Midstream Partners (NASDAQ:MMLP) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.75 and traded as high as $3.75. Martin Midstream Partners shares last traded at $3.65, with a volume of 76,624 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a research report on Saturday. They issued a “buy” rating on the stock.

Martin Midstream Partners Price Performance

The firm’s 50-day moving average price is $3.55 and its 200 day moving average price is $3.75. The firm has a market capitalization of $142.55 million, a price-to-earnings ratio of -28.07 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. On average, analysts predict that Martin Midstream Partners L.P. will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.55%. Martin Midstream Partners’s dividend payout ratio (DPR) is currently -15.38%.

Institutional Trading of Martin Midstream Partners

A number of hedge funds have recently bought and sold shares of MMLP. De Lisle Partners LLP boosted its position in Martin Midstream Partners by 13.0% during the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after acquiring an additional 30,000 shares during the last quarter. US Bancorp DE purchased a new position in Martin Midstream Partners during the fourth quarter worth approximately $32,000. Raymond James Financial Inc. purchased a new position in Martin Midstream Partners during the fourth quarter worth approximately $124,000. JPMorgan Chase & Co. raised its stake in Martin Midstream Partners by 24.4% during the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after purchasing an additional 140,196 shares during the period. Finally, Gardner Lewis Asset Management L P purchased a new position in Martin Midstream Partners during the fourth quarter worth approximately $824,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

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.