Martin Midstream Partners L.P. (NASDAQ:MMLP) Expected to Post Q3 2024 Earnings of ($0.03) Per Share

Martin Midstream Partners L.P. (NASDAQ:MMLP) – Research analysts at Sidoti Csr cut their Q3 2024 earnings per share estimates for Martin Midstream Partners in a research report issued to clients and investors on Tuesday, July 30th. Sidoti Csr analyst K. May now anticipates 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 posted its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.09 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $184.53 million for the quarter, compared to the consensus estimate of $193.91 million. During the same quarter last year, the company earned $0.03 earnings per share.

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

Martin Midstream Partners Stock Down 1.3 %

NASDAQ MMLP opened at $3.84 on Thursday. The stock’s 50-day moving average price is $3.39 and its 200-day moving average price is $2.85. Martin Midstream Partners has a 52 week low of $2.04 and a 52 week high of $4.13. The company has a market capitalization of $149.76 million, a P/E ratio of 43.23 and a beta of 2.21.

Institutional Trading of Martin Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American National Bank purchased a new position in Martin Midstream Partners during the 1st quarter valued at approximately $35,000. Acadian Asset Management LLC purchased a new position in Martin Midstream Partners during the 1st quarter valued at approximately $50,000. Virtu Financial LLC purchased a new position in Martin Midstream Partners during the 1st quarter valued at approximately $55,000. Finally, Victory Capital Management Inc. grew its holdings in 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 buying an additional 7,500 shares in the last quarter. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, August 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is presently 22.22%.

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.