Q2 2024 EPS Estimates for Martin Midstream Partners L.P. (NASDAQ:MMLP) Boosted by Sidoti Csr

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Equities research analysts at Sidoti Csr lifted their Q2 2024 EPS estimates for shares of Martin Midstream Partners in a report issued on Tuesday, April 16th. Sidoti Csr analyst K. May now forecasts that the pipeline company will post earnings per share of $0.09 for the quarter, up from their prior forecast of $0.08. 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’ Q3 2024 earnings at ($0.01) EPS, Q2 2025 earnings at $0.10 EPS and FY2025 earnings at $0.26 EPS.

Martin Midstream Partners (NASDAQ:MMLP) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter, topping 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.

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

Martin Midstream Partners Price Performance

MMLP stock traded up $0.09 during mid-day trading on Wednesday, hitting $2.74. The stock had a trading volume of 93,408 shares, compared to its average volume of 47,187. Martin Midstream Partners has a 52 week low of $1.95 and a 52 week high of $3.30. The firm has a fifty day simple moving average of $2.49 and a 200 day simple moving average of $2.46.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were issued a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, February 6th. Martin Midstream Partners’s dividend payout ratio is currently -16.67%.

Institutional Investors Weigh In On Martin Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in MMLP. Raymond James & Associates lifted its position in shares of Martin Midstream Partners by 3.3% during the 3rd quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock valued at $1,687,000 after acquiring an additional 19,194 shares during the period. JPMorgan Chase & Co. lifted its holdings in Martin Midstream Partners by 1.4% during the second quarter. JPMorgan Chase & Co. now owns 558,599 shares of the pipeline company’s stock valued at $1,190,000 after purchasing an additional 7,726 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Martin Midstream Partners by 35.5% in the second quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock worth $486,000 after buying an additional 31,999 shares in the last quarter. UBS Group AG lifted its holdings 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 worth $177,000 after buying an additional 4,028 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Martin Midstream Partners in the first quarter worth about $140,000. 34.90% of the stock is owned by institutional investors.

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.