Martin Midstream Partners L.P. (NASDAQ:MMLP) Sees Significant Decrease in Short Interest

Martin Midstream Partners L.P. (NASDAQ:MMLP) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 49,200 shares, a drop of 26.5% from the November 30th total of 66,900 shares. Based on an average daily volume of 101,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Martin Midstream Partners in a research report on Thursday. They issued a “buy” rating on the stock.

Martin Midstream Partners Price Performance

NASDAQ:MMLP traded down $0.26 during mid-day trading on Friday, reaching $3.75. The stock had a trading volume of 466,084 shares, compared to its average volume of 84,008. Martin Midstream Partners has a 12 month low of $2.04 and a 12 month high of $4.13. The stock has a market capitalization of $146.25 million, a PE ratio of 37.50 and a beta of 2.10. The stock has a 50-day simple moving average of $3.98 and a two-hundred day simple moving average of $3.73.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. The business had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. During the same quarter last year, the firm posted ($0.03) EPS. Equities analysts expect that Martin Midstream Partners will post 0.16 EPS for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.02 annualized dividend and a dividend yield of 0.53%. Martin Midstream Partners’s dividend payout ratio is currently 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

A hedge fund recently raised its stake in Martin Midstream Partners stock. De Lisle Partners LLP increased its stake in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 260,833 shares of the pipeline company’s stock after acquiring an additional 30,000 shares during the period. De Lisle Partners LLP owned about 0.67% of Martin Midstream Partners worth $953,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.90% of the company’s stock.

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.