Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Update

Martin Midstream Partners L.P. (NASDAQ:MMLP) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 103,567 shares, a growth of 16.6% from the February 12th total of 88,855 shares. Based on an average daily volume of 7,831 shares, the days-to-cover ratio is currently 13.2 days. Approximately 0.3% of the company’s stock are short sold. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 7,831 shares, the days-to-cover ratio is currently 13.2 days.

Martin Midstream Partners Price Performance

NASDAQ MMLP opened at $2.67 on Tuesday. The stock has a market capitalization of $104.09 million, a price-to-earnings ratio of -7.20 and a beta of 0.56. The business’s fifty day moving average is $2.84 and its 200-day moving average is $2.82. Martin Midstream Partners has a one year low of $2.21 and a one year high of $3.85.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, February 18th. The pipeline company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). The business had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $194.47 million. Research analysts expect that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Martin Midstream Partners’s payout ratio is currently -5.41%.

Analysts Set New Price Targets

A number of research firms have issued reports on MMLP. Stifel Nicolaus cut their price objective on shares of Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Martin Midstream Partners in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $3.00.

Institutional Investors Weigh In On Martin Midstream Partners

Several institutional investors have recently made changes to their positions in MMLP. Artisan Partners Limited Partnership grew its position in shares of Martin Midstream Partners by 7.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 7,596 shares in the last quarter. Commerce Bank purchased a new position in Martin Midstream Partners during the 4th quarter valued at about $28,000. Jane Street Group LLC increased its position in shares of Martin Midstream Partners by 139.3% during the fourth quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after buying an additional 14,010 shares during the period. Susquehanna International Group LLP lifted its holdings in shares of Martin Midstream Partners by 298.9% in the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock worth $135,000 after buying an additional 33,064 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Martin Midstream Partners in the third quarter worth about $41,000. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.