Edgestream Partners L.P. Makes New $3.52 Million Investment in SM Energy Company $SM

Edgestream Partners L.P. bought a new position in shares of SM Energy Company (NYSE:SM) during the first quarter, Holdings Channel.com reports. The firm bought 112,950 shares of the energy company’s stock, valued at approximately $3,522,000.

Other large investors also recently modified their holdings of the company. Torren Management LLC grew its stake in shares of SM Energy by 4,561.1% during the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock valued at $26,000 after purchasing an additional 821 shares during the last quarter. Center for Financial Planning Inc. bought a new position in SM Energy in the 1st quarter worth approximately $31,000. Valued Wealth Advisors LLC bought a new position in SM Energy in the 1st quarter worth approximately $33,000. Assetmark Inc. acquired a new position in SM Energy during the 1st quarter worth $35,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in SM Energy by 332.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,129 shares of the energy company’s stock worth $35,000 after buying an additional 868 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Trading Up 2.5%

Shares of NYSE SM opened at $32.42 on Friday. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $35.88. The firm has a market capitalization of $7.77 billion, a P/E ratio of 13.62 and a beta of 0.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.39 and a quick ratio of 0.39. The company’s 50 day simple moving average is $29.96 and its 200 day simple moving average is $27.30.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The business’s quarterly revenue was up 75.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 EPS. On average, analysts predict that SM Energy Company will post 6.95 EPS for the current year.

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, June 8th. SM Energy’s dividend payout ratio (DPR) is currently 36.97%.

Insider Activity at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of SM Energy stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the completion of the sale, the director directly owned 65,964 shares of the company’s stock, valued at $2,241,456.72. The trade was a 27.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on SM shares. Mizuho decreased their price objective on SM Energy from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Weiss Ratings upgraded SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. UBS Group assumed coverage on SM Energy in a research note on Tuesday, July 14th. They set a “buy” rating and a $36.00 price target on the stock. Wall Street Zen upgraded SM Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Roth Capital upgraded SM Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.00 in a research report on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, SM Energy has an average rating of “Moderate Buy” and a consensus target price of $36.53.

About SM Energy

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.