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

Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a report on Saturday. They set a “buy” rating for the company.

Martin Midstream Partners Stock Up 0.3 %

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

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that Martin Midstream Partners L.P. will post 0.15 EPS for the current year.

Martin Midstream Partners Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new position in Martin Midstream Partners during the fourth quarter worth about $32,000. Squarepoint Ops LLC acquired a new position in Martin Midstream Partners during the fourth quarter worth about $36,000. CSS LLC IL acquired a new position in Martin Midstream Partners during the fourth quarter worth about $100,000. Geode Capital Management LLC grew its position in Martin Midstream Partners by 24.9% during the fourth quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company’s stock worth $107,000 after buying an additional 5,966 shares during the period. Finally, AGP Franklin LLC acquired a new position in Martin Midstream Partners during the fourth quarter worth about $111,000. 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.