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.
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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