Envestnet Asset Management Inc. Has $14.97 Million Position in SM Energy Company (NYSE:SM)

Envestnet Asset Management Inc. cut its holdings in SM Energy Company (NYSE:SM) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 499,854 shares of the energy company’s stock after selling 45,107 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SM Energy were worth $14,971,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SM. Proficio Capital Partners LLC bought a new position in SM Energy during the fourth quarter worth $256,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in SM Energy during the 4th quarter worth about $753,000. Natixis Advisors LLC boosted its stake in shares of SM Energy by 4.8% in the 4th quarter. Natixis Advisors LLC now owns 42,920 shares of the energy company’s stock valued at $1,664,000 after purchasing an additional 1,978 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of SM Energy by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,214 shares of the energy company’s stock valued at $473,000 after purchasing an additional 677 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of SM Energy in the 4th quarter valued at approximately $415,000. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of SM Energy from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, June 16th. Susquehanna decreased their target price on shares of SM Energy from $39.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. KeyCorp reduced their target price on shares of SM Energy from $60.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Stephens dropped their price target on SM Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Mizuho lowered their target price on SM Energy from $46.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.08.

SM Energy Stock Performance

Shares of SM stock opened at $25.89 on Friday. The business’s 50 day simple moving average is $25.57 and its 200 day simple moving average is $29.71. SM Energy Company has a one year low of $19.67 and a one year high of $47.69. The stock has a market capitalization of $2.96 billion, a PE ratio of 3.63 and a beta of 2.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.57 and a quick ratio of 0.57.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Thursday, May 1st. The energy company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.16. The firm had revenue of $844.54 million for the quarter, compared to analysts’ expectations of $814.62 million. SM Energy had a return on equity of 19.90% and a net margin of 27.61%. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS. As a group, research analysts forecast that SM Energy Company will post 8.1 earnings per share for the current year.

SM Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, July 18th. SM Energy’s dividend payout ratio is currently 11.20%.

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.