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

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 56,820 shares, a decrease of 36.8% from the May 14th total of 89,898 shares. Based on an average daily volume of 35,232 shares, the short-interest ratio is presently 1.6 days. Currently, 0.2% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Martin Midstream Partners in a research note on Friday, May 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Institutional Investors Weigh In On Martin Midstream Partners

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Martin Midstream Partners by 216.0% during the second quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock worth $1,714,000 after purchasing an additional 397,163 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Martin Midstream Partners by 221.2% in the third quarter. Artisan Partners Limited Partnership now owns 107,339 shares of the pipeline company’s stock worth $328,000 after acquiring an additional 73,926 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Martin Midstream Partners during the 1st quarter valued at about $121,000. Susquehanna International Group LLP grew its holdings in shares of Martin Midstream Partners by 298.9% during the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after buying an additional 33,064 shares during the last quarter. Finally, Jane Street Group LLC increased 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. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Martin Midstream Partners Stock Down 1.9%

NASDAQ:MMLP traded down $0.05 during mid-day trading on Tuesday, hitting $2.64. 13,992 shares of the stock traded hands, compared to its average volume of 41,455. The business’s 50-day moving average price is $2.61 and its 200 day moving average price is $2.69. The company has a market cap of $103.28 million, a PE ratio of -5.18 and a beta of 0.51. Martin Midstream Partners has a 12-month low of $2.21 and a 12-month high of $3.54.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported ($0.17) earnings per share (EPS) for the quarter. The company had revenue of $187.67 million during the quarter.

Martin Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.005 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.02 annualized dividend and a yield of 0.8%. Martin Midstream Partners’s payout ratio is -3.92%.

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.