Research Analysts Offer Predictions for Martin Midstream Partners L.P.’s Q2 2024 Earnings (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Stock analysts at Sidoti Csr raised their Q2 2024 earnings per share estimates for shares of Martin Midstream Partners in a research note issued to investors on Tuesday, April 16th. Sidoti Csr analyst K. May now forecasts that the pipeline company will post earnings of $0.09 per share for the quarter, up from their prior 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 posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $177.85 million.

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

Martin Midstream Partners Trading Down 2.9 %

MMLP stock opened at $2.66 on Wednesday. The stock has a market capitalization of $103.74 million, a PE ratio of -22.17 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. The stock’s 50 day simple moving average is $2.51 and its 200 day simple moving average is $2.46.

Martin Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders 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 dividend on an annualized basis and a yield of 0.75%. Martin Midstream Partners’s payout ratio is presently -16.67%.

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new stake in Martin Midstream Partners in the 3rd quarter worth $39,000. American National Bank bought a new position in shares of Martin Midstream Partners during the 1st quarter valued at about $35,000. Jane Street Group LLC bought a new position in shares of Martin Midstream Partners during the 4th quarter valued at about $43,000. HighTower Advisors LLC boosted 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 during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Martin Midstream Partners during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 34.90% of the company’s stock.

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.