Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Up 16.6% in February

Martin Midstream Partners L.P. (NASDAQ:MMLP) saw a large growth in short interest during the month of 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. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 7,831 shares, the short-interest ratio is presently 13.2 days. Based on an average daily volume of 7,831 shares, the short-interest ratio is presently 13.2 days. Currently, 0.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock opened at $2.59 on Wednesday. Martin Midstream Partners has a 52-week low of $2.21 and a 52-week high of $3.85. The stock has a market cap of $101.17 million, a PE ratio of -7.00 and a beta of 0.56. The firm has a 50-day moving average of $2.84 and a 200-day moving average of $2.82.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, February 18th. The pipeline company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.13). The business had revenue of $174.20 million for the quarter, compared to analyst estimates of $194.47 million. Equities research analysts predict that Martin Midstream Partners will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were given a $0.005 dividend. 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 payout ratio is presently -5.41%.

Hedge Funds Weigh In On Martin Midstream Partners

A number of hedge funds have recently added to or reduced their stakes in MMLP. Artisan Partners Limited Partnership lifted its position in shares of Martin Midstream Partners by 7.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock valued at $300,000 after acquiring an additional 7,596 shares during the period. Commerce Bank acquired a new stake in shares of Martin Midstream Partners during the 4th quarter worth $28,000. Citadel Advisors LLC bought a new position in shares of Martin Midstream Partners in the third quarter worth $41,000. Jane Street Group LLC raised its stake in Martin Midstream Partners by 139.3% in the fourth quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after purchasing an additional 14,010 shares in the last quarter. Finally, Susquehanna International Group LLP raised its stake in 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 valued at $135,000 after purchasing an additional 33,064 shares in the last quarter. 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.