Zacks: Analysts Expect Martin Midstream Partners L.P. (MMLP) Will Post Quarterly Sales of $237.22 Million

Equities analysts predict that Martin Midstream Partners L.P. (NASDAQ:MMLP) will report $237.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Martin Midstream Partners’ earnings, with the highest sales estimate coming in at $254.16 million and the lowest estimate coming in at $214.84 million. Martin Midstream Partners posted sales of $236.90 million during the same quarter last year, which suggests a positive year over year growth rate of 0.1%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that Martin Midstream Partners will report full-year sales of $237.22 million for the current fiscal year, with estimates ranging from $855.21 million to $894.53 million. For the next year, analysts expect that the firm will post sales of $884.50 million per share, with estimates ranging from $866.35 million to $895.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Martin Midstream Partners.

MMLP has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, October 18th. BidaskClub upgraded shares of Martin Midstream Partners from a “hold” rating to a “buy” rating in a research report on Friday. B. Riley restated a “buy” rating and set a $18.00 target price on shares of Martin Midstream Partners in a research report on Monday, December 18th. Royal Bank of Canada restated a “hold” rating and set a $18.00 target price on shares of Martin Midstream Partners in a research report on Friday, October 27th. Finally, Stifel Nicolaus decreased their target price on shares of Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.33.

In other Martin Midstream Partners news, CFO Robert D. Bondurant acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of $13.58 per share, for a total transaction of $27,160.00. Following the transaction, the chief financial officer now directly owns 39,314 shares of the company’s stock, valued at $533,884.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ruben S. Martin acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $13.61 per share, for a total transaction of $68,050.00. Following the completion of the transaction, the insider now directly owns 140,598 shares in the company, valued at $1,913,538.78. The disclosure for this purchase can be found here. Insiders purchased a total of 9,603 shares of company stock worth $133,053 over the last quarter. Insiders own 17.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in shares of Martin Midstream Partners by 1.9% in the 2nd quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after buying an additional 602 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Martin Midstream Partners by 2.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 91,873 shares of the pipeline company’s stock worth $1,612,000 after buying an additional 2,385 shares in the last quarter. Advisors Capital Management LLC boosted its position in shares of Martin Midstream Partners by 1.7% in the 3rd quarter. Advisors Capital Management LLC now owns 182,231 shares of the pipeline company’s stock worth $2,834,000 after buying an additional 3,035 shares in the last quarter. Sippican Capital Advisors boosted its position in shares of Martin Midstream Partners by 12.4% in the 4th quarter. Sippican Capital Advisors now owns 32,520 shares of the pipeline company’s stock worth $455,000 after buying an additional 3,600 shares in the last quarter. Finally, Arrow Investment Advisors LLC boosted its position in shares of Martin Midstream Partners by 14.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 41,684 shares of the pipeline company’s stock worth $648,000 after buying an additional 5,393 shares in the last quarter. Institutional investors and hedge funds own 30.39% of the company’s stock.

Shares of Martin Midstream Partners (NASDAQ:MMLP) opened at $16.80 on Monday. The company has a market cap of $653.69, a price-to-earnings ratio of 36.52 and a beta of 1.49. Martin Midstream Partners has a 1 year low of $12.70 and a 1 year high of $20.90. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 11.90%. Martin Midstream Partners’s dividend payout ratio is presently 434.78%.

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Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

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