Martin Midstream Partners L.P. (NASDAQ:MMLP) Expected to Post Q1 2024 Earnings of $0.06 Per Share

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Research analysts at Sidoti Csr cut their Q1 2024 EPS estimates for shares of Martin Midstream Partners in a research report issued to clients and investors on Tuesday, April 16th. Sidoti Csr analyst K. May now forecasts that the pipeline company will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.07. 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’ 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 shares of Martin Midstream Partners in a research note on Wednesday. They set a “strong-buy” rating for the company.

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP opened at $2.74 on Thursday. Martin Midstream Partners has a 12 month low of $1.95 and a 12 month high of $3.30. The company has a 50 day simple moving average of $2.50 and a two-hundred day simple moving average of $2.46.

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

Hedge Funds Weigh In On Martin Midstream Partners

Institutional investors have recently made changes to their positions in the company. American National Bank purchased a new position in shares of Martin Midstream Partners during the 1st quarter valued at approximately $35,000. Citadel Advisors LLC purchased a new position in shares of Martin Midstream Partners during the 3rd quarter valued at approximately $39,000. Jane Street Group LLC purchased a new position in shares of Martin Midstream Partners during the 4th quarter valued at approximately $43,000. HighTower Advisors LLC increased its holdings in shares of Martin Midstream Partners by 59.8% during the 4th quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 6,016 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Martin Midstream Partners during the 4th quarter valued at approximately $67,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Tuesday, February 6th. Martin Midstream Partners’s dividend payout ratio (DPR) is -16.67%.

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.