Sidoti Csr Comments on Martin Midstream Partners L.P.’s Q1 2024 Earnings (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Equities research analysts at Sidoti Csr lowered their Q1 2024 earnings per share (EPS) estimates for shares of 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 $0.06 per share for the quarter, down from their prior forecast of $0.07. The consensus estimate for Martin Midstream Partners’ current full-year earnings is $0.10 per share. Sidoti Csr also issued estimates for Martin Midstream Partners’ FY2024 earnings at $0.10 EPS, Q3 2025 earnings at $0.03 EPS and Q4 2025 earnings at $0.06 EPS.

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

Martin Midstream Partners Price Performance

NASDAQ MMLP opened at $2.71 on Thursday. The stock has a market capitalization of $105.69 million, a price-to-earnings ratio of 30.11 and a beta of 2.12. Martin Midstream Partners has a one year low of $1.95 and a one year high of $3.30. The business’s fifty day moving average is $2.52 and its 200-day moving average is $2.46.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $177.85 million. Martin Midstream Partners had a negative return on equity of 5.91% and a net margin of 0.52%.

Institutional Investors Weigh In On Martin Midstream Partners

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in Martin Midstream Partners by 4.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,958,380 shares of the pipeline company’s stock worth $4,211,000 after acquiring an additional 91,816 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Martin Midstream Partners by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock worth $2,748,000 after acquiring an additional 2,458 shares during the last quarter. Raymond James & Associates increased its holdings in Martin Midstream Partners by 3.3% in the 3rd quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock worth $1,687,000 after acquiring an additional 19,194 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Martin Midstream Partners by 35.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock worth $486,000 after acquiring an additional 31,999 shares during the last quarter. Finally, UBS Group AG grew its holdings in Martin Midstream Partners by 10.6% during the 1st quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after buying an additional 4,028 shares in the last quarter. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, May 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is currently 22.22%.

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.