FY2024 EPS Estimates for Martin Midstream Partners L.P. Lifted by Analyst (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Research analysts at Sidoti Csr upped their FY2024 earnings per share (EPS) estimates for shares of Martin Midstream Partners in a research note issued on Monday, April 22nd. Sidoti Csr analyst K. May now forecasts that the pipeline company will earn $0.14 per share for the year, up from their prior forecast of $0.10. The consensus estimate for Martin Midstream Partners’ current full-year earnings is $0.10 per share. Sidoti Csr also issued estimates for Martin Midstream Partners’ Q4 2024 earnings at ($0.02) EPS and FY2025 earnings at $0.22 EPS.

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

Martin Midstream Partners Price Performance

Shares of MMLP stock opened at $2.60 on Wednesday. Martin Midstream Partners has a 1 year low of $1.95 and a 1 year high of $3.30. The company’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $2.46. The stock has a market capitalization of $101.40 million, a price-to-earnings ratio of 28.89 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last issued 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. Martin Midstream Partners had a net margin of 0.52% and a negative return on equity of 5.91%. The firm had revenue of $181.10 million during the quarter, compared to analyst estimates of $177.85 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMLP. Raymond James & Associates boosted its stake in 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 buying an additional 19,194 shares during the period. American National Bank bought a new stake in shares of Martin Midstream Partners during the 1st quarter valued at about $35,000. Finally, Victory Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 7,500 shares in the last quarter. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Martin Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be paid a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, May 7th. Martin Midstream Partners’s dividend payout ratio is presently 22.22%.

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.