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

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the recipient of a significant drop in short interest during the month of 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 short-interest ratio is currently 0.5 days. Approximately 0.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Martin Midstream Partners in a research note on Thursday. They issued a “buy” rating for the company.

Martin Midstream Partners Price Performance

MMLP stock traded down $0.26 on Friday, reaching $3.75. 466,084 shares of the company traded hands, compared to its average volume of 84,008. The company has a market cap of $146.25 million, a P/E ratio of 37.50 and a beta of 2.10. The firm has a fifty day simple moving average of $3.98 and a 200-day simple moving average of $3.73. Martin Midstream Partners has a one year low of $2.04 and a one year high of $4.13.

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

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Thursday, November 7th. Martin Midstream Partners’s payout ratio is 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 grew its position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,833 shares of the pipeline company’s stock after purchasing an additional 30,000 shares during the period. De Lisle Partners LLP owned approximately 0.67% of Martin Midstream Partners worth $953,000 at the end of the most recent reporting period. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Martin Midstream Partners Company Profile

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.