Q1 2024 Earnings Forecast for Martin Midstream Partners L.P. Issued By Sidoti Csr (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Stock analysts at Sidoti Csr lowered their Q1 2024 earnings per share (EPS) estimates for Martin Midstream Partners in a research 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 $0.06 for the quarter, down from their prior estimate 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.

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

Martin Midstream Partners Price Performance

NASDAQ:MMLP opened at $2.66 on Thursday. The business has a fifty day simple moving average of $2.51 and a two-hundred day simple moving average of $2.46. Martin Midstream Partners has a 1 year low of $1.95 and a 1 year high of $3.30. The company has a market capitalization of $103.74 million, a P/E ratio of -22.17 and a beta of 2.12.

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

Martin Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were given a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, February 6th. Martin Midstream Partners’s dividend payout ratio is currently -16.67%.

Hedge Funds Weigh In On Martin Midstream Partners

Several hedge funds have recently made changes to their positions in MMLP. Raymond James & Associates grew its position in shares of Martin Midstream Partners by 351.9% in the first quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company’s stock valued at $1,755,000 after purchasing an additional 325,461 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Martin Midstream Partners in the first quarter valued at $140,000. UBS Group AG grew its position in shares of Martin Midstream Partners by 10.6% in the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 4,028 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in shares of Martin Midstream Partners in the first quarter valued at $379,000. Finally, JPMorgan Chase & Co. grew its position in shares of Martin Midstream Partners by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock valued at $2,748,000 after purchasing an additional 2,458 shares in the last quarter. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

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.