Q2 2024 EPS Estimates for Martin Midstream Partners L.P. Lifted by Sidoti Csr (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Equities researchers at Sidoti Csr raised their Q2 2024 earnings per share estimates for Martin Midstream Partners in a note issued to investors on Tuesday, April 16th. Sidoti Csr analyst K. May now expects that the pipeline company will earn $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.

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

Martin Midstream Partners Stock Up 3.4 %

NASDAQ:MMLP opened at $2.74 on Wednesday. The stock’s 50 day moving average price is $2.50 and its two-hundred day moving average price is $2.46. The firm has a market capitalization of $106.86 million, a price-to-earnings ratio of -22.83 and a beta of 2.12. Martin Midstream Partners has a 12-month low of $1.95 and a 12-month high of $3.30.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data 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 business had revenue of $181.10 million during the quarter, compared to the consensus estimate of $177.85 million.

Hedge Funds Weigh In On Martin Midstream Partners

A number of large investors have recently made changes to their positions in the company. American National Bank bought a new position in shares of Martin Midstream Partners during the first quarter worth approximately $35,000. Goldman Sachs Group Inc. increased its stake in Martin Midstream Partners by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,812,783 shares of the pipeline company’s stock worth $4,351,000 after acquiring an additional 66,314 shares during the period. Victory Capital Management Inc. increased its stake in Martin Midstream Partners by 33.6% during the 4th quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock worth $72,000 after acquiring an additional 7,500 shares during the period. Raymond James & Associates increased its stake in Martin Midstream Partners by 3.3% during 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 period. Finally, JPMorgan Chase & Co. increased its stake in Martin Midstream Partners by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 558,599 shares of the pipeline company’s stock worth $1,190,000 after acquiring an additional 7,726 shares during the period. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Announces Dividend

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