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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus reduced their price target 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 report on Thursday, January 22nd. 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, the company currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Martin Midstream Partners Stock Performance

Shares of NASDAQ:MMLP traded up $0.21 during midday trading on Thursday, reaching $2.80. The company’s stock had a trading volume of 2,011 shares, compared to its average volume of 14,907. The firm has a market capitalization of $109.31 million, a price-to-earnings ratio of -7.56 and a beta of 0.57. The firm has a 50 day moving average price of $2.75 and a two-hundred day moving average price of $2.74. Martin Midstream Partners has a fifty-two week low of $2.21 and a fifty-two week high of $3.54.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data 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 firm had revenue of $174.20 million during the quarter, compared to the consensus estimate of $194.47 million. As a group, research analysts anticipate that Martin Midstream Partners will post 0.15 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 6th. Martin Midstream Partners’s payout ratio is currently -5.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lee Financial Co acquired a new position in shares of Martin Midstream Partners in the 3rd quarter valued at about $830,000. Nomura Holdings Inc. lifted its stake in shares of Martin Midstream Partners by 12.3% in the 2nd quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company’s stock valued at $11,320,000 after purchasing an additional 420,000 shares during the period. Artisan Partners Limited Partnership lifted its stake 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 valued at $300,000 after purchasing an additional 7,596 shares during the period. Susquehanna International Group LLP lifted its stake 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 valued at $135,000 after purchasing an additional 33,064 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Martin Midstream Partners by 216.0% in the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after purchasing an additional 397,163 shares during the period. 34.90% of the stock is owned by institutional investors and hedge funds.

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.