Edgestream Partners L.P. Invests $3.41 Million in SM Energy Company $SM

Edgestream Partners L.P. acquired a new stake in SM Energy Company (NYSE:SM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 137,975 shares of the energy company’s stock, valued at approximately $3,409,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in SM Energy by 69.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company’s stock worth $30,000 after purchasing an additional 417 shares during the period. Brooklyn Investment Group boosted its position in shares of SM Energy by 1,097.9% during the 1st quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,043 shares in the last quarter. Flaharty Asset Management LLC bought a new position in shares of SM Energy during the 1st quarter worth about $45,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of SM Energy by 332.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,887 shares of the energy company’s stock valued at $47,000 after buying an additional 1,451 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in SM Energy by 73.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,899 shares of the energy company’s stock valued at $57,000 after buying an additional 802 shares in the last quarter. 94.56% of the stock is owned by institutional investors.

SM Energy Trading Up 3.3%

Shares of SM Energy stock opened at $20.17 on Thursday. The company has a market capitalization of $2.31 billion, a P/E ratio of 3.18 and a beta of 1.16. The stock has a fifty day simple moving average of $21.11 and a 200 day simple moving average of $24.55. SM Energy Company has a 12-month low of $17.58 and a 12-month high of $44.95. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.49.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Monday, November 3rd. The energy company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.08. SM Energy had a return on equity of 16.67% and a net margin of 22.03%.The business had revenue of $811.59 million for the quarter, compared to analysts’ expectations of $838.24 million. During the same period last year, the business earned $1.62 EPS. The business’s revenue was up 26.1% on a year-over-year basis. On average, sell-side analysts anticipate that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 17th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, October 17th. This represents a $0.80 annualized dividend and a yield of 4.0%. SM Energy’s payout ratio is 12.62%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SM. Wells Fargo & Company cut their price target on SM Energy from $30.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, October 17th. Mizuho set a $38.00 target price on SM Energy in a research report on Friday, October 10th. Royal Bank Of Canada lifted their price target on shares of SM Energy from $34.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Roth Capital set a $28.00 price target on shares of SM Energy in a research note on Monday, November 3rd. Finally, Zacks Research raised shares of SM Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SM Energy currently has an average rating of “Hold” and an average target price of $36.64.

SM Energy Profile

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.