Brokers Set Expectations for Martin Midstream Partners L.P.’s Q3 2024 Earnings (NASDAQ:MMLP)

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Research analysts at Sidoti Csr decreased their Q3 2024 EPS estimates for shares of Martin Midstream Partners in a research note issued on Tuesday, July 30th. Sidoti Csr analyst K. May now expects that the pipeline company will post earnings per share of ($0.03) for the quarter, down from their previous forecast of ($0.02). The consensus estimate for Martin Midstream Partners’ current full-year earnings is $0.13 per share. Sidoti Csr also issued estimates for Martin Midstream Partners’ Q4 2024 earnings at ($0.02) EPS and Q2 2025 earnings at $0.08 EPS.

Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, July 17th. The pipeline company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Martin Midstream Partners had a negative return on equity of 10.46% and a net margin of 0.90%. The company had revenue of $184.53 million for the quarter, compared to analysts’ expectations of $193.91 million. During the same period last year, the business earned $0.03 EPS.

Separately, StockNews.com cut Martin Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Martin Midstream Partners Stock Down 1.3 %

Shares of MMLP opened at $3.84 on Thursday. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13. The business’s fifty day moving average is $3.39 and its 200 day moving average is $2.85. The stock has a market cap of $149.76 million, a P/E ratio of 43.23 and a beta of 2.21.

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be given a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, August 7th. Martin Midstream Partners’s payout ratio is currently 22.22%.

Institutional Investors Weigh In On Martin Midstream Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. American National Bank purchased a new stake in Martin Midstream Partners in the 1st quarter valued at $35,000. Acadian Asset Management LLC bought a new position in Martin Midstream Partners in the 1st quarter valued at $50,000. Virtu Financial LLC bought a new position in Martin Midstream Partners in the 1st quarter valued at $55,000. Finally, Victory Capital Management Inc. grew its stake in Martin Midstream Partners by 33.6% in the 4th quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 7,500 shares during the period. 34.90% of the stock is owned by hedge funds and other 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.