Q2 2024 Earnings Forecast for Martin Midstream Partners L.P. (NASDAQ:MMLP) Issued By Sidoti Csr

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Analysts at Sidoti Csr increased their Q2 2024 EPS estimates for Martin Midstream Partners in a note issued to investors on Tuesday, April 16th. Sidoti Csr analyst K. May now anticipates that the pipeline company will post earnings per share of $0.09 for the quarter, up from their prior estimate 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 started coverage on Martin Midstream Partners in a research note on Wednesday. They set a “strong-buy” rating on the stock.

Martin Midstream Partners Stock Performance

MMLP traded up $0.09 during trading hours on Wednesday, hitting $2.74. 93,408 shares of the stock were exchanged, compared to its average volume of 47,187. The stock has a 50-day simple moving average of $2.49 and a 200-day simple moving average of $2.46. 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 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 company had revenue of $181.10 million for the quarter, compared to analyst estimates of $177.85 million.

Martin Midstream Partners Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis 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%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Raymond James & Associates increased its holdings in shares of Martin Midstream Partners by 3.3% during 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 during the period. JPMorgan Chase & Co. grew its holdings in Martin Midstream Partners by 1.4% during the second 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. BNP Paribas Arbitrage SA grew its holdings in Martin Midstream Partners by 35.5% during the second 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 period. UBS Group AG grew its holdings in Martin Midstream Partners by 10.6% during the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock worth $177,000 after acquiring an additional 4,028 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Martin Midstream Partners during the first quarter worth about $140,000. 34.90% of the stock is owned by institutional investors and hedge funds.

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.