Martin Midstream Partners L.P. (NASDAQ:MMLP) – Capital One Financial lowered their Q4 2020 EPS estimates for shares of Martin Midstream Partners in a report issued on Tuesday, August 13th. Capital One Financial analyst K. May now anticipates that the pipeline company will post earnings per share of $0.50 for the quarter, down from their previous forecast of $0.62. Capital One Financial also issued estimates for Martin Midstream Partners’ FY2021 earnings at $0.79 EPS.
A number of other equities research analysts also recently issued reports on MMLP. BidaskClub raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Zacks Investment Research raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, TheStreet downgraded shares of Martin Midstream Partners from a “c” rating to a “d+” rating in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Martin Midstream Partners presently has an average rating of “Hold” and an average price target of $14.50.
Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, July 24th. The pipeline company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.40). Martin Midstream Partners had a negative net margin of 18.38% and a negative return on equity of 15.28%. The business had revenue of $187.32 million for the quarter, compared to the consensus estimate of $181.97 million.
Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Martin Midstream Partners by 97.1% in the fourth quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock worth $457,000 after buying an additional 21,909 shares during the period. Jane Street Group LLC purchased a new position in shares of Martin Midstream Partners in the fourth quarter worth about $109,000. Virtu Financial LLC bought a new stake in shares of Martin Midstream Partners in the first quarter worth about $418,000. Sippican Capital Advisors bought a new stake in shares of Martin Midstream Partners in the first quarter worth about $189,000. Finally, Arrow Investment Advisors LLC grew its stake in shares of Martin Midstream Partners by 12.9% in the first quarter. Arrow Investment Advisors LLC now owns 49,935 shares of the pipeline company’s stock worth $622,000 after purchasing an additional 5,716 shares during the last quarter. 27.26% of the stock is owned by institutional investors.
In other news, CFO Robert D. Bondurant bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $6.67 per share, with a total value of $66,700.00. Following the acquisition, the chief financial officer now owns 78,101 shares of the company’s stock, valued at approximately $520,933.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Chris H. Booth bought 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $6.75 per share, with a total value of $64,125.00. Following the acquisition, the vice president now directly owns 25,803 shares in the company, valued at approximately $174,170.25. The disclosure for this purchase can be found here. In the last three months, insiders have bought 45,563 shares of company stock valued at $309,534. Insiders own 17.00% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 24.57%. The ex-dividend date was Tuesday, August 6th. Martin Midstream Partners’s payout ratio is -526.32%.
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.
Further Reading: Why Net Income is Important to Investors
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