Martin Midstream Partners L.P. (NASDAQ:MMLP) Forecasted to Earn Q2 2024 Earnings of $0.09 Per Share

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Research analysts at Sidoti Csr lifted their Q2 2024 earnings per share estimates for Martin Midstream Partners in a report released on Tuesday, April 16th. Sidoti Csr analyst K. May now expects that the pipeline company will post earnings of $0.09 per share for the quarter, up from their previous forecast of $0.08. The consensus estimate for Martin Midstream Partners’ current full-year earnings is $0.11 per share. Sidoti Csr also issued estimates for Martin Midstream Partners’ Q3 2024 earnings at ($0.01) EPS, Q2 2025 earnings at $0.10 EPS and FY2025 earnings at $0.26 EPS.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $181.10 million for the quarter, compared to the consensus estimate of $177.85 million.

Separately, StockNews.com started coverage on Martin Midstream Partners in a research note on Wednesday. They issued a “strong-buy” rating on the stock.

Martin Midstream Partners Stock Down 2.9 %

Shares of MMLP opened at $2.66 on Wednesday. Martin Midstream Partners has a 12-month low of $1.95 and a 12-month high of $3.30. The firm has a market capitalization of $103.74 million, a price-to-earnings ratio of -22.17 and a beta of 2.12. The stock’s 50-day moving average price is $2.51 and its 200 day moving average price is $2.46.

Institutional Investors Weigh In On Martin Midstream Partners

Several large investors have recently modified their holdings of MMLP. American National Bank acquired a new stake in shares of Martin Midstream Partners in the first quarter valued at $35,000. Goldman Sachs Group Inc. lifted its position in shares of Martin Midstream Partners by 3.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,812,783 shares of the pipeline company’s stock worth $4,351,000 after purchasing an additional 66,314 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Martin Midstream Partners by 33.6% during the fourth quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 7,500 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Martin Midstream Partners by 3.3% in the third quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock valued at $1,687,000 after purchasing an additional 19,194 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Martin Midstream Partners by 1.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 558,599 shares of the pipeline company’s stock worth $1,190,000 after purchasing an additional 7,726 shares during the last quarter. 34.90% of the stock is currently owned by institutional investors.

Martin Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were paid a $0.005 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.02 annualized dividend and a dividend yield of 0.75%. Martin Midstream Partners’s dividend payout ratio is currently -16.67%.

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.