Edgestream Partners L.P. Invests $3.52 Million in SM Energy Company $SM

Key Points

• Edgestream Partners acquired 112,950 shares of SM Energy in the first quarter, worth approximately $3.52 million. Institutional investors collectively own 94.56% of the company.
• Analyst sentiment improved, with Siebert Williams Shank and Roth Capital upgrading SM Energy to “buy.” The stock has a consensus “Moderate Buy” rating and an average price target of $36.53.
• SM Energy reported first-quarter adjusted earnings of $1.55 per share, beating estimates by $0.42, while revenue rose 75% year over year to $1.48 billion. The company also declared a quarterly dividend of $0.22 per share, equivalent to a 2.7% yield.

Edgestream Partners L.P. acquired a new stake in SM Energy Company (NYSE:SM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 112,950 shares of the energy company's stock, valued at approximately $3,522,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. raised its stake in SM Energy by 160.5% during the 4th quarter. NBC Securities Inc. now owns 1,347 shares of the energy company's stock valued at $25,000 after purchasing an additional 830 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of SM Energy by 10,461.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company's stock worth $26,000 after purchasing an additional 1,360 shares during the period. Torren Management LLC increased its holdings in shares of SM Energy by 4,561.1% during the 1st quarter. Torren Management LLC now owns 839 shares of the energy company's stock worth $26,000 after purchasing an additional 821 shares during the period. Global Retirement Partners LLC increased its holdings in shares of SM Energy by 62.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock worth $26,000 after purchasing an additional 535 shares during the period. Finally, Center for Financial Planning Inc. acquired a new position in shares of SM Energy during the first quarter valued at about $31,000. Institutional investors and hedge funds own 94.56% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Siebert Williams Shank upgraded shares of SM Energy from a "hold" rating to a "buy" rating and increased their target price for the company from $30.00 to $41.00 in a research note on Thursday, May 14th. Susquehanna boosted their price target on SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Roth Capital raised SM Energy from a "neutral" rating to a "buy" rating and upped their price target for the company from $30.00 to $32.00 in a report on Monday, June 22nd. Wall Street Zen upgraded SM Energy from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Mizuho reduced their price objective on SM Energy from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.53.

SM Energy Stock Up 2.5%

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

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.42. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period last year, the firm posted $1.76 EPS. The business's revenue was up 75.0% on a year-over-year basis. As a group, sell-side analysts predict that SM Energy Company will post 6.95 EPS for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. 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 is presently 36.97%.

Insider Activity at SM Energy

In other news, Director Ramiro G. Peru sold 24,553 shares of the 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 sale, the director owned 65,964 shares in the company, valued at approximately $2,241,456.72. This represents 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 accessible through this link. Insiders own 0.45% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source