Short Interest in Sanchez Midstream Partners LP (SNMP) Drops By 17.1%

Sanchez Midstream Partners LP (NYSEAMERICAN:SNMP) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 251,415 shares, a decline of 17.1% from the January 15th total of 303,297 shares. Based on an average daily volume of 64,515 shares, the short-interest ratio is currently 3.9 days. Currently, 2.3% of the shares of the company are sold short.

SNMP opened at $3.11 on Tuesday. Sanchez Midstream Partners has a 1-year low of $1.27 and a 1-year high of $13.25.

Sanchez Midstream Partners (NYSEAMERICAN:SNMP) last posted its quarterly earnings results on Friday, November 9th. The basic materials company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.15). The business had revenue of $18.15 million for the quarter.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Wednesday, February 20th will be given a $0.15 dividend. The ex-dividend date is Tuesday, February 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 19.29%.

Separately, Citigroup set a $7.00 price objective on shares of Sanchez Midstream Partners and gave the company a “hold” rating in a report on Monday, November 12th.

Large investors have recently modified their holdings of the stock. Wiley BROS. Aintree Capital LLC bought a new position in shares of Sanchez Midstream Partners during the fourth quarter worth $147,000. Virtu Financial LLC bought a new position in shares of Sanchez Midstream Partners during the third quarter worth $170,000. Renaissance Technologies LLC boosted its position in shares of Sanchez Midstream Partners by 115.5% during the second quarter. Renaissance Technologies LLC now owns 92,900 shares of the basic materials company’s stock worth $1,096,000 after acquiring an additional 49,800 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Sanchez Midstream Partners by 13.2% during the third quarter. Wells Fargo & Company MN now owns 191,257 shares of the basic materials company’s stock worth $1,358,000 after acquiring an additional 22,292 shares during the last quarter.

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About Sanchez Midstream Partners

Sanchez Midstream Partners LP engages in the acquisition, development, ownership, and operation of midstream and other energy-related assets in the United States. It operates in two segments, Midstream and Production. The Midstream segment engages in gathering, processing, and transporting natural gas, NGLs, and oil.

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