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

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 69,483 shares, a decrease of 38.3% from the August 15th total of 112,558 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 9,715 shares, the days-to-cover ratio is presently 7.2 days.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Martin Midstream Partners stock. Bank of America Corp DE boosted its holdings in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547,270 shares of the pipeline company’s stock after buying an additional 4,547 shares during the period. Bank of America Corp DE owned about 1.40% of Martin Midstream Partners worth $1,510,000 as of its most recent SEC filing. 34.90% of the stock is currently owned by institutional investors.

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock traded up $0.01 on Friday, reaching $2.22. The stock had a trading volume of 1,305 shares, compared to its average volume of 20,810. Martin Midstream Partners has a fifty-two week low of $1.89 and a fifty-two week high of $3.31. The business’s 50-day moving average price is $2.34 and its two-hundred day moving average price is $2.50. The stock has a market cap of $86.82 million, a P/E ratio of -5.82 and a beta of 0.47.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, July 22nd. The pipeline company reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $213.60 million during the quarter.

Martin Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, August 7th. Martin Midstream Partners’s payout ratio is currently -5.26%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Martin Midstream Partners in a research note on Wednesday, August 26th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $3.00.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. was a master limited partnership that provided energy-related services primarily in the United States. The partnership operated businesses involved in the gathering, processing, transportation, storage and marketing of natural gas liquids, specialty products and other hydrocarbon-based materials.

Its operations included terminaling and storage facilities, marine transportation and sulfur services. The partnership’s assets and services supported producers, refiners, chemical companies and other industrial customers, with activities concentrated largely in the Gulf Coast and other energy-producing regions of the United States.

Martin Midstream Partners was formed in 2002 and was sponsored by Martin Resource Management Corporation, an energy-services company based in Kilgore, Texas.