Edgestream Partners L.P. Grows Stake in SM Energy (NYSE:SM)

Edgestream Partners L.P. increased its position in shares of SM Energy (NYSE:SM) by 35.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,297 shares of the energy company’s stock after purchasing an additional 12,561 shares during the quarter. Edgestream Partners L.P.’s holdings in SM Energy were worth $1,930,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Verition Fund Management LLC raised its position in SM Energy by 163.9% during the third quarter. Verition Fund Management LLC now owns 31,048 shares of the energy company’s stock worth $1,241,000 after acquiring an additional 19,282 shares during the last quarter. Captrust Financial Advisors purchased a new stake in SM Energy during the 3rd quarter worth about $281,000. Centric Wealth Management grew its holdings in shares of SM Energy by 5.5% during the third quarter. Centric Wealth Management now owns 65,665 shares of the energy company’s stock worth $2,893,000 after buying an additional 3,398 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SM Energy by 24.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,102 shares of the energy company’s stock valued at $1,363,000 after buying an additional 6,667 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in shares of SM Energy by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 432,825 shares of the energy company’s stock valued at $17,300,000 after buying an additional 10,728 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SM. Mizuho cut their price target on SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Truist Financial reduced their target price on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Stephens lifted their price target on SM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets dropped their price objective on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of SM Energy from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.09.

SM Energy Trading Down 2.1 %

Shares of SM stock opened at $44.24 on Tuesday. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26. The firm’s 50 day moving average price is $43.18 and its two-hundred day moving average price is $44.47. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 6.18 and a beta of 4.18. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.67.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $643.67 million. During the same period in the prior year, the company earned $1.73 EPS. The firm’s revenue was up .4% on a year-over-year basis. On average, analysts anticipate that SM Energy will post 6.77 EPS for the current year.

SM Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a $0.20 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s dividend payout ratio (DPR) is 11.17%.

About SM Energy

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.