Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Down 36.0% in March

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 54,833 shares, a decrease of 36.0% from the March 15th total of 85,713 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 21,280 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Martin Midstream Partners in a research report on Thursday, January 22nd. Stifel Nicolaus decreased their target price on shares of Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Martin Midstream Partners has an average rating of “Reduce” and a consensus price target of $3.00.

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock traded down $0.13 on Tuesday, reaching $2.59. 14,200 shares of the company’s stock were exchanged, compared to its average volume of 17,776. The company has a market capitalization of $101.17 million, a P/E ratio of -7.00 and a beta of 0.57. Martin Midstream Partners has a 52 week low of $2.21 and a 52 week high of $3.54. The firm’s 50-day moving average is $2.76 and its two-hundred day moving average is $2.74.

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

Martin Midstream Partners Dividend Announcement

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

Hedge Funds Weigh In On Martin Midstream Partners

A number of institutional investors and hedge funds have recently modified their holdings of MMLP. Commerce Bank bought a new position in shares of Martin Midstream Partners during the 4th quarter worth approximately $28,000. Citadel Advisors LLC bought a new position in shares of Martin Midstream Partners in the 3rd quarter worth $41,000. Jane Street Group LLC lifted its holdings in shares of Martin Midstream Partners by 139.3% in the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock worth $63,000 after purchasing an additional 14,010 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in shares of Martin Midstream Partners by 298.9% in the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 33,064 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Martin Midstream Partners by 7.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock worth $300,000 after purchasing an additional 7,596 shares in the last quarter. 34.90% of the stock is currently owned by institutional investors.

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.