Martin Midstream Partners L.P. (NASDAQ:MMLP) to Post FY2024 Earnings of $0.14 Per Share, Sidoti Csr Forecasts

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Analysts at Sidoti Csr lifted their FY2024 earnings estimates for shares of Martin Midstream Partners in a report released on Monday, April 22nd. Sidoti Csr analyst K. May now forecasts that the pipeline company will post earnings per share of $0.14 for the year, up from their prior forecast of $0.10. 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’ Q4 2024 earnings at ($0.02) EPS and FY2025 earnings at $0.22 EPS.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, beating 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 had a net margin of 0.52% and a negative return on equity of 5.91%.

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a report on Wednesday, April 17th. They issued a “strong-buy” rating on the stock.

Martin Midstream Partners Stock Down 2.6 %

Shares of MMLP opened at $2.66 on Wednesday. The firm has a market cap of $103.74 million, a PE ratio of 29.67 and a beta of 2.12. The company’s fifty day moving average is $2.55 and its two-hundred day moving average is $2.46. Martin Midstream Partners has a fifty-two week low of $1.95 and a fifty-two week high of $3.30.

Martin Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.75%. Martin Midstream Partners’s payout ratio is 22.22%.

Hedge Funds Weigh In On Martin Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American National Bank acquired a new position in shares of Martin Midstream Partners during the 1st quarter valued at $35,000. Victory Capital Management Inc. lifted its holdings in shares of Martin Midstream Partners by 33.6% during the 4th quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock valued at $72,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Martin Midstream Partners by 3.3% during the 3rd quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock worth $1,687,000 after buying an additional 19,194 shares during the period. Institutional investors and hedge funds own 34.90% of the company’s stock.

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.