Martin Midstream Partners L.P. (NASDAQ:MMLP) Forecasted to Earn Q1 2024 Earnings of $0.06 Per Share

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Sidoti Csr lowered their Q1 2024 EPS estimates for Martin Midstream Partners in a research report issued on Tuesday, April 16th. Sidoti Csr analyst K. May now anticipates that the pipeline company will earn $0.06 per share for the quarter, down from their previous forecast of $0.07. 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’ FY2024 earnings at $0.10 EPS, Q3 2025 earnings at $0.03 EPS and Q4 2025 earnings at $0.06 EPS.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $177.85 million.

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

Martin Midstream Partners Price Performance

Shares of NASDAQ:MMLP opened at $2.66 on Thursday. Martin Midstream Partners has a 1 year low of $1.95 and a 1 year high of $3.30. The firm has a market capitalization of $103.74 million, a price-to-earnings ratio of -22.17 and a beta of 2.12. The business’s 50 day moving average price is $2.51 and its 200-day moving average price is $2.46.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in Martin Midstream Partners in the 3rd quarter valued at $39,000. American National Bank acquired a new position in Martin Midstream Partners in the 1st quarter valued at $35,000. Jane Street Group LLC acquired a new position in Martin Midstream Partners in the 4th quarter valued at $43,000. HighTower Advisors LLC raised its stake in Martin Midstream Partners by 59.8% in 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. acquired a new stake in shares of Martin Midstream Partners in the 4th quarter worth $67,000. 34.90% of the stock is owned by institutional investors and hedge funds.

Martin Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were given 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 0.75%. Martin Midstream Partners’s dividend payout ratio (DPR) is -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.