Brokers Issue Forecasts for Martin Midstream Partners L.P.’s Q2 2024 Earnings (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Sidoti Csr reduced their Q2 2024 EPS estimates for shares of Martin Midstream Partners in a research note issued on Thursday, June 27th. Sidoti Csr analyst K. May now expects that the pipeline company will earn $0.08 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for Martin Midstream Partners’ current full-year earnings is $0.15 per share. Sidoti Csr also issued estimates for Martin Midstream Partners’ Q3 2024 earnings at $0.00 EPS, FY2024 earnings at $0.15 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.09 EPS and FY2025 earnings at $0.20 EPS.

Separately, StockNews.com assumed coverage on shares of Martin Midstream Partners in a research note on Wednesday, April 17th. They issued a “strong-buy” rating for the company.

Martin Midstream Partners Price Performance

Martin Midstream Partners stock opened at $3.23 on Friday. Martin Midstream Partners has a fifty-two week low of $1.98 and a fifty-two week high of $3.42. The firm’s 50 day simple moving average is $3.06 and its 200-day simple moving average is $2.67. The company has a market cap of $125.97 million, a P/E ratio of 35.89 and a beta of 2.18.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Martin Midstream Partners had a net margin of 0.52% and a negative return on equity of 5.98%. The company had revenue of $180.83 million during the quarter, compared to the consensus estimate of $198.80 million.

Martin Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were given a $0.005 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.62%. Martin Midstream Partners’s payout ratio is 22.22%.

Institutional Investors Weigh In On Martin Midstream Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American National Bank acquired a new position in shares of Martin Midstream Partners during the 1st quarter worth $35,000. Acadian Asset Management LLC acquired a new position in Martin Midstream Partners in the 1st quarter valued at $50,000. Virtu Financial LLC acquired a new position in Martin Midstream Partners in the 1st quarter valued at $55,000. Finally, Victory Capital Management Inc. grew its stake in Martin Midstream Partners by 33.6% in the 4th quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock valued at $72,000 after buying an additional 7,500 shares during the last quarter. Hedge funds and other 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.