Sidoti Csr Comments on Martin Midstream Partners L.P.’s FY2024 Earnings (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Stock analysts at Sidoti Csr boosted 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 of $0.14 per share for the year, up from their previous 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 assumed coverage on shares of Martin Midstream Partners in a research note on Wednesday, April 17th. They issued a “strong-buy” rating on the stock.

Martin Midstream Partners Price Performance

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

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $181.10 million for the quarter, compared to analyst estimates of $177.85 million. Martin Midstream Partners had a negative return on equity of 5.91% and a net margin of 0.52%.

Martin Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.005 per share. 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 payout ratio is 22.22%.

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors have recently modified their holdings of the business. Raymond James & Associates raised its stake in Martin Midstream Partners by 3.3% in the 3rd quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock worth $1,687,000 after purchasing an additional 19,194 shares in the last quarter. American National Bank acquired a new stake in shares of Martin Midstream Partners in the first quarter valued at approximately $35,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Martin Midstream Partners by 33.6% in the fourth quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock valued at $72,000 after buying an additional 7,500 shares during the period. Institutional investors own 34.90% of the company’s stock.

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.