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

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

Shares of NYSEAMERICAN:SNMP opened at $3.23 on Thursday. Sanchez Midstream Partners has a 52-week low of $1.27 and a 52-week high of $13.25.

The company also recently announced 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 annualized dividend and a yield of 18.58%.

Separately, Citigroup set a $7.00 target price on Sanchez Midstream Partners and gave the stock a “hold” rating in a research report on Monday, November 12th.

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its stake in shares of Sanchez Midstream Partners by 13.2% in the third quarter. Wells Fargo & Company MN now owns 191,257 shares of the basic materials company’s stock worth $1,358,000 after buying an additional 22,292 shares during the period. Virtu Financial LLC bought a new position in shares of Sanchez Midstream Partners in the third quarter worth about $170,000. Renaissance Technologies LLC raised its stake in shares of Sanchez Midstream Partners by 115.5% in the second quarter. Renaissance Technologies LLC now owns 92,900 shares of the basic materials company’s stock worth $1,096,000 after buying an additional 49,800 shares during the period. Kalos Management Inc. raised its stake in shares of Sanchez Midstream Partners by 101.2% in the fourth quarter. Kalos Management Inc. now owns 39,369 shares of the basic materials company’s stock worth $95,000 after buying an additional 19,799 shares during the period. Finally, Wiley BROS. Aintree Capital LLC bought a new position in shares of Sanchez Midstream Partners in the fourth quarter worth about $147,000.

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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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