SM Energy (NYSE:SM) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in shares of SM Energy (NYSE:SM) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,790 shares of the energy company’s stock after buying an additional 625 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of SM Energy worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SM. Jupiter Asset Management Ltd. purchased a new position in shares of SM Energy in the first quarter worth $5,614,000. Foundry Partners LLC lifted its position in SM Energy by 1,733.5% during the 1st quarter. Foundry Partners LLC now owns 102,307 shares of the energy company’s stock worth $5,100,000 after acquiring an additional 96,727 shares during the period. SG Americas Securities LLC acquired a new stake in SM Energy during the 1st quarter worth about $710,000. Wedge Capital Management L L P NC grew its stake in SM Energy by 4.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock valued at $25,646,000 after purchasing an additional 27,405 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of SM Energy by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 764,118 shares of the energy company’s stock valued at $38,093,000 after purchasing an additional 124,450 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Price Performance

NYSE:SM opened at $44.16 on Wednesday. The stock has a market capitalization of $5.08 billion, a PE ratio of 6.92 and a beta of 4.18. The stock’s 50-day moving average price is $42.68 and its 200-day moving average price is $46.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. SM Energy has a 52 week low of $34.13 and a 52 week high of $53.26.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. The company had revenue of $634.56 million during the quarter, compared to analyst estimates of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. As a group, equities analysts expect that SM Energy will post 7.08 EPS for the current fiscal year.

SM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, October 25th. This is an increase from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s dividend payout ratio is 12.54%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of SM Energy in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of SM Energy from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday. Mizuho reduced their target price on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, September 16th. BMO Capital Markets decreased their target price on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Finally, Truist Financial cut their price target 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. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.40.

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.