Martin Midstream Partners L.P. (NASDAQ:MMLP) – Equities researchers at Capital One Financial raised their Q2 2019 earnings per share estimates for shares of Martin Midstream Partners in a research report issued on Monday, June 10th. Capital One Financial analyst K. May now forecasts that the pipeline company will post earnings of $0.31 per share for the quarter, up from their prior estimate of $0.24. Capital One Financial also issued estimates for Martin Midstream Partners’ Q3 2019 earnings at $0.25 EPS, FY2019 earnings at $1.05 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.10 EPS, Q4 2020 earnings at $0.62 EPS and FY2020 earnings at $1.48 EPS.
Martin Midstream Partners (NASDAQ:MMLP) last issued its earnings results on Wednesday, April 24th. The pipeline company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.31). Martin Midstream Partners had a net margin of 2.78% and a negative return on equity of 10.10%. The company had revenue of $250.97 million during the quarter, compared to analyst estimates of $276.53 million.
MMLP has been the topic of a number of other research reports. ValuEngine raised Martin Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, March 1st. BidaskClub raised Martin Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Zacks Investment Research cut Martin Midstream Partners from a “hold” rating to a “sell” rating in a report on Saturday, February 16th. Finally, TheStreet cut Martin Midstream Partners from a “c” rating to a “d+” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.33.
Shares of MMLP stock opened at $6.71 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.36 and a quick ratio of 0.22. Martin Midstream Partners has a 52 week low of $6.03 and a 52 week high of $14.55. The company has a market capitalization of $257.90 million, a price-to-earnings ratio of 17.45, a P/E/G ratio of 6.44 and a beta of 1.09.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.90%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently -526.32%.
In other Martin Midstream Partners news, CFO Robert D. Bondurant purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average price of $6.67 per share, with a total value of $66,700.00. Following the completion of the acquisition, the chief financial officer now owns 78,101 shares in the company, valued at approximately $520,933.67. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Randall Tauscher purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average cost of $6.81 per share, for a total transaction of $136,200.00. Following the acquisition, the insider now owns 72,371 shares of the company’s stock, valued at approximately $492,846.51. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 44,285 shares of company stock worth $306,465. Corporate insiders own 17.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MMLP. Creative Planning bought a new stake in shares of Martin Midstream Partners during the fourth quarter valued at approximately $201,000. Bell & Brown Wealth Advisors LLC raised its holdings in Martin Midstream Partners by 111.3% during the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 33,800 shares of the pipeline company’s stock worth $347,000 after purchasing an additional 17,800 shares in the last quarter. Camelot Portfolios LLC bought a new stake in Martin Midstream Partners during the fourth quarter worth approximately $180,000. Geode Capital Management LLC raised its holdings in Martin Midstream Partners by 97.1% during the fourth quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock worth $457,000 after purchasing an additional 21,909 shares in the last quarter. Finally, Barclays PLC raised its holdings in Martin Midstream Partners by 124.5% during the fourth quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock worth $156,000 after purchasing an additional 8,408 shares in the last quarter. 27.25% of the stock is currently owned by institutional investors.
Martin Midstream Partners Company Profile
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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