Martin Midstream Partners L.P. Expected to Post Q2 2024 Earnings of $0.08 Per Share (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Stock analysts at Sidoti Csr lowered their Q2 2024 earnings per share (EPS) estimates for Martin Midstream Partners in a report issued on Thursday, June 27th. Sidoti Csr analyst K. May now forecasts that the pipeline company will post earnings of $0.08 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for Martin Midstream Partners’ current full-year earnings is $0.14 per share. Sidoti Csr also issued estimates for Martin Midstream Partners’ Q3 2024 earnings at $0.00 EPS, FY2024 earnings at $0.15 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.09 EPS and FY2025 earnings at $0.20 EPS.

Martin Midstream Partners (NASDAQ:MMLP) last posted its earnings results on Wednesday, April 17th. The pipeline company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Martin Midstream Partners had a negative return on equity of 5.98% and a net margin of 0.52%. The firm had revenue of $180.83 million for the quarter, compared to analysts’ expectations of $198.80 million.

Separately, StockNews.com initiated coverage on shares of Martin Midstream Partners in a research note on Wednesday, April 17th. They set a “strong-buy” rating on the stock.

Martin Midstream Partners Stock Performance

Shares of MMLP opened at $3.25 on Friday. Martin Midstream Partners has a one year low of $1.98 and a one year high of $3.42. The stock’s fifty day moving average is $3.05 and its 200-day moving average is $2.66. The firm has a market capitalization of $126.75 million, a price-to-earnings ratio of 36.12 and a beta of 2.18.

Hedge Funds Weigh In On Martin Midstream Partners

Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in Martin Midstream Partners by 33.6% during the fourth quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock worth $72,000 after buying an additional 7,500 shares in the last quarter. American National Bank purchased a new stake in shares of Martin Midstream Partners during the first quarter valued at $35,000. Acadian Asset Management LLC purchased a new stake in shares of Martin Midstream Partners during the first quarter valued at $50,000. Finally, Virtu Financial LLC acquired a new position in shares of Martin Midstream Partners in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Tuesday, May 7th. Martin Midstream Partners’s payout ratio is 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.